Financial News: UK Services Activity Growth Accelerates

UK Services Activity Growth Accelerates

(RTTNews) - The UK services activity grew at the fastest pace in four months in August reflecting an improvement in broader economic conditions, final survey data from S&P Global showed Thursday.

The services Purchasing Managers' Index rose to a four-month high of 52.5 in August from 52.1 in the previous month. The flash score was 52.8.

There was a marginal expansion of new orders in the service economy. However, export sales dropped for the sixth straight month due to subdued European demand and geopolitical uncertainties.

Employment decreased at the slowest pace since October 2025. Service sector workforce levels fell for 23 months, which was the longest continuous period since the survey began in July 1996.

On the price front, the survey showed that input cost inflation picked up from the five-month low seen in July. Meanwhile, output prices increased at an accelerated pace.

Although inflationary pressure was a constraint on business optimism, business activity expectations continued to rebound from the low point seen in May.

The overall private sector output growth accelerated in August, underpinned by the services economy, while manufacturing production rose at the softest rate in four months. The final composite output index registered 52.5, in line with flash estimate, and up from 52.2 in July.

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