UK Private Sector Activity Accelerates in October, PMIs Beat Expectations

• UK private sector activity expanded at 8-month high in October.
• Composite PMI rose to 53.1, significantly beating expectations.
• Services and Manufacturing PMIs also exceeded forecasts, signaling economic resilience.

The United Kingdom’s private sector activity expanded at its fastest pace in eight months during October, with the S&P Global Composite Purchasing Managers’ Index (PMI) rising to 53.1. This figure significantly surpassed market expectations of 51.8 and the prior month’s 52.0. Both the Services PMI, which climbed to 53.1 from 52.1, and the Manufacturing PMI, increasing to 52.8 from 51.9, also exceeded analyst forecasts. This acceleration in business growth, the strongest since February, was attributed to a rebound in new orders and firms hiring additional staff, indicating sustained economic resilience. The composite index has now remained above the 50.0 growth threshold for the fourth consecutive month.