Manufacturing activity in the UK rose at the fastest pace in at least 29 yearsBritain’s recovery from the pandemic moved up a gear yesterday as upbeat economic data at home and abroad propelled stock markets higher. The pound touched a three-year high as reports showed that British manufacturing grew at its fastest rate in at least 29 years and house prices rose at their fastest pace in nearly seven years. SponsoredSamuel Tombs, chief UK economist at Pantheon Macroeconomics, said that the recovery in manufacturing was “remarkably strong” and that business surveys were “glowing red hot”. Howard Archer, chief economic adviser to the EY Item Club, said that the economy was “well on course for a strong rebound in the second quarter” and that growth could exceed 6.8 per cent this year. Oil prices rose

Source: The Times June 01, 2021 22:52 UTC