UK growth at fastest for nearly 18 months outshining European rivals

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UK growth at fastest pace for nearly 18 months leaving major European rivals in its wake

By Daily Mail City & Finance Reporter

Published: | Updated:

Britain’s economy is growing at the fastest pace for nearly 18 months as it leaves major European rivals in its wake.

Research group IHS Markit said its activity index for the UK economy, where scores above 50 show growth, rose from 52.8 in January to 53 last month, the strongest reading since September 2018, adding to evidence that the economy perked up following the General Election.

The UK score was also higher than those registered in Germany, France, Italy and Spain.

Research group IHS Markit said its activity index for the UK economy, where scores above 50 show growth, rose from 52.8 in January to 53 last month

But the report found that manufacturing and services industries increasingly felt the impact of the coronavirus outbreak as February wore on.

It is feared that the epidemic could tip economies around the world into recession.

Chris Williamson, chief business economist at IHS Markit, said: ‘UK business activity grew at the fastest rate for almost one-and-a-half years. 

‘Whether this can be sustained is starting to look increasingly at risk. A key question will be the extent to which Covid-19 affects the economy.’

 

 

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