UK S&P Global Services PMI Final (Oct) 52.8 vs. Exp. 53.1 (Prev. 52.1)
ORIGINAL · NewsquawkUK S&P Global Services PMI Final (Oct) 52.8 vs. Exp. 53.1 (Prev. 52.1)Read originalHide original
"October data highlighted a combination of faster output growth and stronger price pressures across the UK service economy, mirroring the trends in the manufacturing sector. These signals underscore the near-certainty of a Bank of England rate hike in November and collectively raise the likelihood of further Bank of England policy tightening into 2027." "Input price inflation accelerated for the third month in a row to its highest since May. The latest steep increase in average cost burdens was mainly linked to higher fuel and transportation bills, alongside rising salary payments and energy prices."
October’s UK services PMI was below expectations but above its previous reading; the report cited faster output growth, stronger price pressures, rising input costs and possible further Bank of England tightening.
News detail
"October data highlighted a combination of faster output growth and stronger price pressures across the UK service economy, mirroring the trends in the manufacturing sector. These signals underscore the near-certainty of a Bank of England rate hike in November and collectively raise the likelihood of further Bank of England policy tightening into 2027." "Input price inflation accelerated for the third month in a row to its highest since May. The latest steep increase in average cost burdens was mainly linked to higher fuel and transportation bills, alongside rising salary payments and energy prices."
Related stocks
1 stocks
What do investors think?
StockNow uses AI to translate and analyze information and does not guarantee its accuracy or completeness.