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Companies on hiring drive as recovery gains pace

UK

One of Britain's most closely watched economic indicators has suggested that the UK economy is on track to expand by 0.6% in the three months to the end of March, in line with its long-term average. Yesterday's purchasing managers index showed wages improving and companies on a recruitment drive in Britain's dominant services industry, adding to the growing sense of optimism. Chris Williamson, chief economist at survey compilers Markit, said: 'The UK economy is on course for yet another robust performance in the first quarter, with growth set to accelerate from the slowdown seen late last year.' But despite the composite PMI edging up to 57, February's PMI for the services sector was a slight disappointment, slipping to 56.7 from 57.2 in January.

 

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