Reino Unido PMI Servicios

The S&P Global UK Services PMI rose to 53.7 in August of 2024 from 52.5 in the previous month, revised higher from 53.3, and well above the initial market consensus of 52.8, to extend the strong momentum for British service providers. It marked the tenth consecutive expansion in British services activity, at the sharpest pace since April. Inflows of new business expanded sharply, with survey respondents linking the higher demand with the improving economic backdrop, the prospect of lower borrowing costs, and lower political uncertainty following July’s general election. Also supporting output, firms noted a marked reduction in the backlogs of work in the period. Consequently, the higher demand for capacity drove employment numbers to increase. On the price front, input cost inflation fell to its lowest since January 2021, as lower costs for energy offset a sharp rise in wage pressures. Looking ahead, business activity expectations for the upcoming year remained upbeat.