London (dpa -Afx) – The mood in the companies of the UK recovered more than expected in May. The shopping manager index (PMI) from S&P Global rose by 1.8 points to 50.3 points compared to the previous month, as S&P announced on Tuesday in London, according to a second estimate. On average, economists had expected the first estimate of 49.4 points. The indicator thus signals a slight increase in economic activity because it is slightly above the growth threshold of 50 points.
The situation in the service sector has improved unexpectedly. The corresponding indicator rose by 1.9 points to 50.9 points. In industry, the indicator of a very low level had improved somewhat. The data had already been published on Monday.
The service sector has recovered because the concerns about US customs policy decreased somewhat, commented Tim Moore, economist at S&P Global Market Intelligence. Great Britain had reached an agreement with the US government. In addition, the recovery of the Financial markets And the grown trust of customers supports the mood, writes Moore./Jsl/Mis