India, Nov. 4 -- The UK service sector grew the most since February amid sustained recovery in new order intakes, final purchasing managers' survey data from S&P Global showed Wednesday.
The final services Purchasing Managers' Index rose to 52.8 in October from 52.1 in the previous month. However, the score was below the initial estimate of 53.1.
A combination of faster output growth and stronger price pressures underscore the near uncertainty of a Bank of England rate hike in November and collectively raise the likelihood of further policy tightening into 2027, S&P Global Market Intelligence Economics Director Tim Moore said.
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