Mumbai, Aug. 21 -- S&P Global Flash UK PMI data indicated that private sector output growth accelerated to its fastest for 12 months in August, led by a solid upturn in the service economy. Moreover, new business volumes expanded at the strongest pace since October 2024. Employment was again a weak spot as total workforce numbers decreased for the eleventh month running and at a marked pace.
Input cost inflation meanwhile edged up to its highest since May. Survey respondents continued to note that suppliers had sought to pass on increased National Insurance costs.
Higher payroll costs also resulted in another robust rise in prices charged by private sector firms in August, with service providers recording particularly strong inflationary ...