UK S&P Global Composite PMI Flash (Aug) 52.5 vs. Exp. 51.6 (Prev. 52.2)

Businesses are feeling more upbeat than at any time since the war began. Job losses are also moderating. The data suggest the Bank of England looks likely to keep a hawkish bias but will stay cautious, holding off any rate hikes until the growth and inflation trajectories become clearer. The UK economy picked up a bit more pace in August, adding to signs that we should see solid economic growth of around 0.3% in the third quarter.