This is likely due to the fact private businesses
continue to perform well, as activity across all sectors grew for the
fourteenth month in a row last month.
Although output continues to decline from record figures seen in
October 2013, any figure above 50 indicates growth, meaning businesses
are still performing well despite the slight drop.
Chief economist at Markit, Chris Williamson, says it's surprising
that businesses have done so well considering how bad the weather has
been. "There's no end in sight to the good news," he states, reports reuters.com.
business confidence in the services economy rising, growth should pick
up again in March, adding conviction to the growing consensus that the
economy is set for its best year of growth since 2007, with the rate
easily surpassing the 1.8 per cent expansion seen last year."
The report also shows that the economy remains to expand at the same
pace seen at the end of last year, as since January it's grown 0.7 per