February’s survey provided further signs of recovery within the UK private sector services economy. The seasonally adjusted Business Activity Index recorded 52.1, up from 51.4 in January, to signal expansion of overall activity levels for the second month running. Moreover, despite remaining only modest and well down on levels seen during the same period one year ago, the rate of expansion of activity was nevertheless the strongest since last June and represented a significant turnaround from the falling levels of activity seen in the final four months of 2001.
February Purchasing Managers’ Survey for Services
