Financial News: UK Service Sector Logs Strong Upturn In October

UK Service Sector Logs Strong Upturn In October

11/05/2025 - 08:52:00 (RTTNews)

(RTTNews) - The UK service sector growth strengthened in October, helped by improved demand conditions, final survey results from S&P Global showed on Wednesday.

The S&P Global services Purchasing Managers' Index posted 52.3 in October, up from a five-month low of 50.8 in September. The flash score was 51.1.

"The latest survey offered some positive signals for the UK service economy, with output growth stronger than the earlier 'flash' estimate for October, and therefore confirming a notable improvement from September's five month low," S&P Global Market Intelligence Economics Director Tim Moore said.

There was a gradual turnaround in new work and sales opportunities in October. Moreover, expectations for activity over the coming twelve months were the most upbeat since October 2024. However, employment continued to decline in October.

Regarding prices, input cost inflation remained historically high but moderated for the second month to its lowest since November 2024. Average prices charged by service providers increased at the slowest pace since June.

The survey showed a moderate upturn in the private sector output. The final composite output index posted 52.2, up from 50.1 in September and above the 50.0 no-change value for the sixth successive month.

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