UK business activity grows at fastest pace for eight months

Summarised from 2 outlets · Updated 23 Oct, 11:51 · Archive

UK businesses reported their strongest growth in eight months in October, driven by the sharpest rise in new work for two years.

UK businesses reported their strongest growth in eight months in October, according to preliminary data from the S&P Global flash UK composite purchasing managers' index. The index recorded a reading of 53.1 for October, representing an improvement from September's 52 and marking the fastest growth since February. The performance significantly exceeded economists' forecast of 51.7. Any score above 50.0 indicates activity is growing.

Both the manufacturing and services sectors showed growing output. Total new work across the private sector increased at its fastest rate since September 2024. Firms highlighted a 'general recovery' in customer demand. A number of surveyed companies indicated that AI investments and demand for technology services helped support sales, whilst others attributed improving activity to 'receding' risk aversion and resilient global economic conditions.

However, businesses faced some headwinds. Numerous reports indicated that firms encountered sales challenges linked to geopolitical uncertainty and 'weak' consumer confidence.

How it is being reported

• UK business activity grows at fastest pace for eight monthsNew early figures showed that firms were boosted by the sharpest rise in new work for two years.Independent Business · 23 Oct, 11:20
• UK business activity grows at fastest pace for eight monthsNew early figures showed that firms were boosted by the sharpest rise in new work for two years.Evening Standard · 23 Oct, 11:20

In this story: UK · S&P Global · September

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