August flash UK Services PMI climbed to 52.8, surpassing the 51.8 estimate, driven by stronger service sector activity.
The UK flash Services Purchasing Managers’ Index (PMI) increased to 52.8 in August, up from a prior reading and above the 51.8 consensus forecast. The expansion reflects accelerated growth in the service sector, which offset weaker manufacturing activity.
The composite PMI, which includes both services and manufacturing, reached 52.5, marking its fastest pace of growth in three months. Analysts had anticipated a modest rise, but the services sector outperformed expectations, signaling resilience in the UK economy.
Markets are monitoring the data for signs of sustained economic momentum, though inflationary pressures remain a key concern for policymakers.