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UK business activity buoyed by staycations, hot weather and World Cup
['Henry Saker-Clark', 'Press Association Deputy Business Editor', 'Min Read']
Yahoo Finance - Business Finance, Stock Market, Quotes, News
The recent heatwave, the World Cup and staycations by holidaymakers helped UK business activity bounce back to surprise growth this month.
New early figures showed that activity in the private sector increased for the first in three months in July.
"Hospitality companies saw demand boosted by good weather, the Fifa World Cup and more domestic holidays, as high costs and uncertainty continued to deter some foreign travel.
Surveyed companies said they saw stronger demand as the World Cup helped to boost activity in the hospitality sector, with fans going to pubs to watch matches.
Thomas Pugh, chief economist at RSM UK, said: "The sharp rebound in the flash PMI suggests the economy received a timely boost from World Cup fever, good weather and lower fuel prices in July.