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Prices at the Pumps - March 20, 2024 #saltwire #energymarkets #pricesatthepumps #gaspricesLONDON - British businesses kept up their recovery from recession this month but stubborn price pressures could bolster the Bank of England's wait-and-see approach to interest rates, a survey showed Thursday.
"Further signs of the UK economy having pulled out of last year's brief recession are provided by the provisional PMI data for March," Chris Williamson, chief business economist of S&P Global Market Intelligence. "March's PMI warns of elevated underlying price pressures which will likely add to calls for restraint in any pivot to lower interest rates until there are firm signs of lower wage growth," Williamson said.
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