UK services sector at 16-month high

The S&P Global UK services PMI survey scored 54.2 last month, up from 51.8 in July, the highest reading since April 2024.

Tim Moore, economics director at S&P Global Market Intelligence, said: “August data highlights a welcome acceleration of output growth and a swift rebound in order books after July’s dip, leaving the UK service economy on a much stronger footing as the end of summer comes into view.

“Improved sales pipelines, lower borrowing costs and receding fears about US tariffs all helped to boost business optimism.

“However, many service providers still commented on elevated Government policy uncertainty and worries about forthcoming tax-raising measures expected in the autumn Budget.”