LONDON (dpa-AFX) - The UK service sector grew the most since February amid sustained recovery in new order intakes, final purchasing managers' survey data from S&P Global showed Wednesday.
The final services Purchasing Managers' Index rose to 52.8 in October from 52.1 in the previous month. However, the score was below the initial estimate of 53.1.
A combination of faster output growth and stronger price pressures underscore the near uncertainty of a Bank of England rate hike in November and collectively raise the likelihood of further policy tightening into 2027, S&P Global Market Intelligence Economics Director Tim Moore said.
Activity across the private sector picked up for the fourth straight month in October. The final composite output index registered 52.9 compared to 52.0 in September. The flash reading was 53.1.
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