After the latest PMI figures, Michael Brown, market analyst at Pepperstone, said: “This morning’s UK PMI figures further serve to dispel some of the ‘doom and gloom’ that has surrounded the UK economic narrative of late, particularly after Q4 GDP data this time last week confirmed the onset of technical recession at the tail end of 2023. Per the PMIs, it is likely that said recession is already over, with the composite output gauge once more printing comfortably north of the 50 handle, and above market expectations at 53.3.”