A recovery in purchasing managers’ index data from a low late last year offers grounds to think the British economy will emerge from its shallow recession in early 2024, Bank of England policymaker Megan Greene said on Thursday.
“The PMI was more in contractionary territory. It seems to have ticked up and that provides some (news) on where the economy is going for this year,” Greene said at an event hosted in Johannesburg by risk advisors Kroll, where she was chief economist before joining the BoE.
Greene changed her vote this month to support keeping rates on hold at 5.25%, after calling for an increase to 5.5% in previous months.
January PMI data rose to an eight-month high. Provisional February PMI data is due to be published at 0930 GMT.
(Reporting by David Milliken; Editing by Kate Holton)
