India, April 3 -- The UK service sector continued to expand at an accelerated pace in March, spurred by a renewed upturn in new orders, the S&P Global purchasing managers' survey showed on Thursday.
The final services Purchasing Managers' Index climbed to 52.5 in March from 51.0 in February, below the flash reading of 53.2. A score above 50 indicates expansion, while any reading below suggests contraction in the sector.
New business grew at the fastest pace in four months on the back of strong consumer spending despite challenging business conditions, linked to constrained household budgets, rising risk aversion among clients, and elevated geopolitical uncertainty.
Export sales increased for the first time in four months and at the faste...