UK business activity hits one-year high in August

Investing.com -- British businesses are experiencing their strongest month in a year, driven by a rebound in the services sector, according to a survey released Thursday.

The preliminary S&P Global UK Composite Purchasing Managers’ Index (PMI) for August rose to 53.0, marking its highest level since August 2024.

This represents a significant improvement from July’s final reading of 51.5.

The increase exceeded economists’ expectations of a modest rise to 51.6.

The PMI data, which covers both manufacturing and services sectors, shows the UK economy maintaining growth momentum above the 50.0 threshold that separates expansion from contraction.

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