The Aporia · UK business activity grows at fastest pace for eight months

UK business activity grows at fastest pace for eight months

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Saker-Clark, H. (2026, October 23). UK business activity grows at fastest pace for eight months. Evening Standard. https://www.standard.co.uk/business/business-news/chris-williamson-pmi-budget-middle-east-ukraine-b1302066.html

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The S&P Global flash UK composite PMI rose to 53.1 in October, marking the fastest growth in business activity for eight months and exceeding forecasts of 51.7. This increase reflects a surge in new work orders and improved customer demand across both manufacturing and services sectors. Companies reported that investments in AI and technology bolstered sales, though concerns over geopolitical tensions and rising borrowing costs remain significant headwinds.

Written by AI on 2026-10-23, from this article's own text only (the story summary below draws on all the coverage).

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Story summary

As of October 23, 2026, the UK's business activity grew at its fastest pace in eight months, with a reading of 53.1 on the S&P Global flash UK composite purchasing managers’ index (PMI) for October, an improvement from September’s 52. This indicates significant growth since February and was stronger than economists' forecasted rate of 51.7. The PMI score above 50.0 signifies growing activity, with both manufacturing and services sectors contributing to the increase. New work across the private sector increased at its fastest rate since September 2024 due to a recovery in customer demand, supported by AI investments and technology service demands. However, businesses still face uncertainties related to domestic economic policy before the Budget, as well as geopolitical tensions and higher borrowing costs, which could affect further growth.

Written for “UK Business Growth Accelerates” on 2026-11-03, grounded in this article and the 0 other(s) covering the same event.

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0 of 11 hedged ("reportedly", "may", "according to")

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Henry Saker-Clark

96 article(s) here · 1 carrying a prediction

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🔮 The performance was also significantly stronger than expected, with economists having forecast a rate of 51.7 for the month. Any score above 50.0 indicates activity is growing while any score below means it is contracting.

2026-10-23 · assertive framing · UK business activity grows at fastest pace for eight months

Also by Henry Saker-Clark

Tesco held talks over deal to buy up to 150 Poundland shops

2026-11-02 · Evening Standard

Ryanair to review pay freezes and AI use to counter jet fuel price surge

2026-11-02 · Evening Standard

Ryanair to review pay freezes and AI use to counter jet fuel price surge

2026-11-02 · Evening Standard

M&S and Primark among retailers to shed light on consumer spending

2026-10-30 · Evening Standard

Nothing else under this byline is closely related to this article, so these are simply their most recent.

All 96 articles by Henry Saker-Clark →

Claims (11 extracted, 0 hedged)

New early figures showed that firms were boosted by the sharpest rise in new work for two years. asserted

firms → show → years

The closely watched S&P Global flash UK composite purchasing managers’ index (PMI) – which is based on preliminary data from the manufacturing and services sectors – recorded a reading of 53.1 for October. asserted

which → watch → October

It represented an improvement from a 52 reading in September and marked the fastest growth since February. asserted

It → represent → February

The performance was also significantly stronger than expected, with economists having forecast a rate of 51.7 for the month. Any score above 50.0 indicates activity is growing while any score below means it is contracting. asserted

it → expect → 50.0

The data highlighted growing output in both the manufacturing and services sectors. asserted

data → highlight → sectors

Total new work across the private sector increased at its fastest rate since September 2024 as firms highlighted a “general recovery” in customer demand. asserted

firms → increase → demand

A number of surveyed companies indicated that AI investments and demand for technology services helped support sales. asserted

investments → survey → sales

Other companies also indicated that improving activity was partly linked to “receding” risk aversion and resilient global economic conditions. asserted

activity → indicate → aversion

However, there have been numerous reports that businesses faced sales headwinds linked to geopolitical uncertainty and “weak” consumer confidence. asserted

businesses → face → uncertainty

Chris Williamson, chief business economist at S&P Global Market Intelligence, said: “There are reports of paused spending due to a lack of clarity on domestic economic policy in the run up to the Budget, meaning the promising economic picture from the latest PMIs should provide an encouraging base for further robust economic growth through the winter months, barring any adverse surprises to businesses in the tax and spending review. “Geopolitics, and notably the potential for conflicts in the Middle East and Ukraine to add to energy market volatility, are, however, clearly still unsettling many businesses, and cost of living concerns and broader fiscal worries are being compounded by the shift to higher borrowing costs. asserted

concerns → say → costs

The latest figures also pointed towards a potential improvement in the labour market, with staff numbers moving higher for the first time since September 2024. asserted

numbers → point → September

UK business activity grows at fastest pace for eight months

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Claims (11 extracted, 0 hedged)