UK S&P Global Composite PMI Flash (Oct) 53.1 vs. Exp. 51.8 (Prev. 52.0)
October’s flash composite PMI exceeded expectations and the prior reading; commentary also reported renewed hiring and elevated price pressures, while warning of possible Bank of England rate increases.
News detail
“The UK economy has picked up momentum in October, with early PMI data indicating the strongest rate of growth since February. This encouraging sign of economic resilience is underscored by firms taking on additional workers for the first time since hiring was hit by the 2024 Autumn Budget". "Price pressures remain worryingly elevated, not only making a rate hike from the Bank of England at its upcoming policy meeting a near certainty but also likely shortening the odds of further rate hikes into 2027".
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