The UK service sector growth accelerated to a 16-month high in August as output and new orders rose at marked rates, survey results from S&P Global showed on Wednesday.
The headline services The Purchasing Managers' Index rose to 54.2 in August from 51.8 in July. This was above the flash score of 53.6. A reading above 50 indicates expansion in the sector.
New orders rebounded in August, and the rate of growth was the strongest since September 2024, driven by rising sales in both domestic and overseas markets. The upturn in export orders was attributed to successful business development strategies in developed economies, with survey respondents often citing rising sales to clients in the EU and US.
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.