UK service PMI jumped to 58.9 in march

U.K. services PMI jumped to a seven-month high of 58.9 in March from 56.7 in February, boosted by a stronger rise in new business. The latest PMI surveys indicate that the economy grew 0.7% in Q1 following a slowdown late last year. "Faster growth of new business and improved expectations...bode well for the upturn to retain strong momentum," says Markit. The pound was -0.1% at $1.4866 at the time of writing