BRITS rushed back to pubs, bars and restaurants after the end of Plan B measures, boosting the
Activity among British services firms has climbed to an eight month high, hitting 60.5 in February, according to
Curbs such as workers being asked to work from home and vaccine passes were scrapped last month, encouraging consumers to head back to high streets as the degree of influence exerted on economic behaviour from restrictions receded.
Falling Covid-19 cases also boosted Brits' confidence to socialise again.
Experts pointed to improving optimism about the business outlook among serv- ices businesses providing evidence indicating the
"The survey's forward-looking indicators suggest that the sector will continue to grow at a solid pace over the coming months,"
However,
The rate of increase in prices charged by services companies reached a new record high.
Firms are being forced to either hike prices or absorb hits to their profit margins amid a barrage of swelling costs.
Inflation is already running at a near 30 year high of 5.5 per cent, but some economists expect it to surge even higher.
Experts at Goldman Sachs said soaring energy prices caused by the
In response to rampant inflation, the
(c) 2022 City A.M., source