UK private sector activity reached a four-month high in August, driven by increased new orders and job creation.
UK private sector activity reached a four-month high in August, with the services and manufacturing sectors experiencing growth, according to S&P Global's flash PMI. The composite output index rose to 53.4 from 52.8 in July, driven by increased new orders, improved sales pipelines, and increased domestic client spending. Job creation across the private sector increased at the fastest pace in 14 months, and input price inflation eased, leading to a slower increase in selling prices. Business activity expectations for the next year remain positive, with improved sales pipelines, increased domestic investment spending, reduced political uncertainty, and the prospect of further interest rate cuts.
August 22, 2024
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