The S&P Global UK services PMI survey scored 53.7 in August, up from the 52.5 recorded in July and the highest reading since April.
The S&P Global UK services PMI survey scored 53.7 in August, up from the 52.5 recorded in July and the highest reading since April.Growth in the UK’s services sector picked up pace last month as businesses felt the benefits of falling borrowing costs and post-election political stability, according to a new survey.
The headline score, which is watched closely by economists, central banks and financial markets, came in marginally ahead of economists’ predictions. Tim Moore, economics director at S&P Global Market Intelligence, said “domestic political stability helped to bolster customer demand”, after the July general election which saw a landslide Labour victory.
“Hopes of interest rate cuts and steady improvements in broader economic conditions helped to support confidence, but some firms cited concerns about policy uncertainty in the run up to the autumn Budget.”The PMI survey incorporates the responses of hundreds of companies across the UK’s services sector, which includes hospitality, entertainment and culture, finance and insurance, and real estate and business services.
Inflation in the services sector has been a crucial measure watched by the Bank of England, which cut interest rates in August for the first time since 2020.
United Kingdom Latest News, United Kingdom Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Rockshox tops up 2021 Pike, Lyrik, Yari & Revelation forks w/ all-new Debonair Air SpringAll the best cycling news, tech, rumors and reviews
Read more »
2002 to 2021 saw decline, followed by increase in stroke death ratesAfter declines in stroke death rates between 2002 and 2012, rates increased among men and women aged 45 to 64 years between 2012 and 2021, according to an August data brief published by the National Center for Health Statistics.
Read more »
Violent attacks against women on Britain's trains up by more than 50% since 2021The figures come after a previous survey revealed more than a third of all women travelling by rail would be assaulted during their commute.
Read more »
United's regret from 2021 transfer window has been solved with £13m bargainNoussair Mazraoui impressed on his debut for Man Utd and could eventually prove to be a bargain transfer.
Read more »
State COVID-19 vaccine mandates increased vaccine uptake among healthcare workers in 2021Researchers investigated the relationship between state COVID-19 vaccination mandates for healthcare workers and vaccination rates among them.
Read more »
2020 to 2021 saw decline in life expectancy for 39 states, increase for 11From 2020 to 2021, life expectancy at birth declined for 39 U.S. states and increased for 11 states, according to the Aug. 21 National Vital Statistics Reports.
Read more »