British economy starting to improve, but still contracting

Data released by Markt today showed that UK services PMI rose to 49.5 points in February, its highest level in four months, after falling to its lowest level in eight months at 39.5 points in January.

The composite PMI, which combines the manufacturing and services sectors in the United Kingdom, rose to 49.6 points in February after falling to its lowest level in eight months at 41.2 points in January.

The data also showed that the services PMI in France fell to 45.6 points in February from 47.3 points in January, and the composite PMI fell to 47.0 points in February from 47.7 points in January.