The UK private sector witnessed impressive growth in April, fueled by strong performance in the service industry. According to the closely watched S&P Global/CIPS flash UK purchasing managers’ index (PMI), activity expanded at the fastest pace in almost a year. The PMI reading of 54 in April signals a continuation of the UK economy’s recovery from recession in late 2023. Despite a decline in manufacturing, robust growth in services, driven by increased business and consumer spending, propelled overall business expansion.