(MENAFN- Kuwait News Agency (KUNA)) Hopes that Britain can avoid a triple-dip recession were boosted Tuesday after figures showed that the powerhouse services sector continued to rebound last month.
The latest "Markit purchasing managers' index" (PMI) showed an overall reading of 51.8 in February - the fastest rise in activity in five months.
It came as welcome news after gloomy construction figures yesterday showed the sector endured its worst month since October 2009 and manufacturing PMI figures for February revealed a shock drop in activity.
By surveying more than 20,000 companies around the world, every month, the PMI represents the most comprehensive global economic survey available to professional investors.
Chris Willamson, chief economist at survey compilers Mrkit, said: "Faster growth of the dominant services sector offset downturns in manufacturing and construction during February, meaning the economy is likely to have grown for a second successive month after the downturn late last year."
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