UK services activity at four-month high in August

Britain’s services activity grew last month at the fastest pace since April and price pressures eased, according to a survey that pointed to a more benign inflation outlook and a settling of the economy after July’s elections.

The S&P Global UK Services Purchasing Managers Index rose in August to 53.7 from 52.5 in July, above a preliminary estimate of 53.3.

The survey added to signs of an upturn for business since the July 4 election which delivered a landslide victory for Prime Minister Keir Starmer’s Labour Party.