UK business activity grows at its fastest pace for eight months, handing a surprise boost ahead of the Budget

The S&P Global flash composite PMI rose to 53.1 in October, up from 52 in September and comfortably ahead of the 51.7 economists had expected. New work grew at its fastest pace since September 2024, with firms citing a 'general recovery' in customer demand. Both manufacturing and services expanded. AI investment and technology services demand boosted sales.

Chris Williamson of S&P Global said firms had held back spending amid uncertainty over the Budget.

He warned that 'adverse surprises' in tax and spending could derail winter growth.

Firms continue to flag 'weak' consumer confidence and geopolitical headwinds as drags on sales.

LBCUK business activity grows at fastest pace for eight months ReutersUK businesses report strongest month since February, PMI shows Business LiveUK business activity grows at strongest pace in eight months ahead of Budget

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