Has the UK’s economic downturn narrowed down during February 2021?

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Has the UK’s economic downturn narrowed down during February 2021?

Britain’s economic output has demonstrated significant recovery during February 2021. The IHS Markit had reported Britain’s Purchasing Managers’ Index (“PMI”) for the services sector to be around a four-month high of 49.5 during February 2021 as compared to an eight-month low of 39.5 recorded during January 2021. Moreover, the composite Purchasing Managers’ Index is said to be 49.6 during February 2021, while it was around 41.2 during January 2021.

Furthermore, business optimism has been continuously growing due to the rising hopes of returning to normality. Prime Minister Boris Johnson had already unveiled the plans of easing out restrictions on a gradual level.

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