UK economy shows unexpected pep in February -PMI

By Andy Bruce LONDON (Reuters) – Britain looks on course to sidestep a forecast recession as businesses reported an unexpected bounce in activity this month as well as receding price pressures, according to a survey on Tuesday. The preliminary “flash” reading of the S&P Global/CIPS UK Composite Purchasing Managers’ Index (PMI) jumped to 53.0 in February from 48.5 in January, above the 50 threshold for growth for the first time since July. It surpassed all forecasts in a Reuters poll of more than 20 economists, which had pointed to a reading of 49.0. Sterling rose against the dollar and British…

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