the UK Service Sector saw its best results for six months in October with the latest PMI increasing from 53.6 to 55.6 after a disappointing month in September.
This comes after the UK manufacturing sector beat expectations with its growth results earlier this week, and UK construction, while still struggling, showed improvement on last month
The latest services figures demonstrate the fastest rate of growth since April 2017, with improved orders and continued customer demand. Input inflation costs also slowed to the lowest for just over a year. This marks a positive move in the right direction and along with other encoraging sector data, perhaps offers additional confidence in the UK economy.
New orders continued to increase at a robust pace and new work has grown at the quickest rate for six months, thanks to improving demand domestically and new product launches in the sector.
- Halo Financial – London loves Business