London stocks started the week on a subdued note, with the FTSE 100 closing 0.10% in the red, after the latest PMI report showed expansion in Britain’s private sector output ahead of the release of inflation data on Wednesday.
The S&P Global UK Composite PMI showed an acceleration in private sector growth in March 2025, with the index reaching a six-month high of 52, compared with 50.5 in the previous month and the consensus estimate of 50.3.
Renewed improvements in both domestic and overseas sales drove the fastest expansion in the service economy since August 2024. At the same time, the manufacturing downturn worsened amid severe headwinds caused by the rising global economic uncertainty and potential US tariffs.
“Worryingly, these headwinds are likely to grow in force as higher National Insurance contributions come into effect in April, coinciding with the anticipated review of US tariff policy on 2nd April, the latter having the…
