S&P Global Market Intelligence economics director Tim Moore said October data showed faster UK services output growth and rising price pressures alongside manufacturing, signaling a Bank of England November rate rise is all but certain and raising th

2026-11-04

S&P Global Market Intelligence economics director Tim Moore said October data showed faster UK services output growth and rising price pressures alongside manufacturing, signaling a Bank of England November rate rise is all but certain and raising the odds of further tightening in 2027. Services business activity hit its highest since February and new orders rebounded sharply, driven in part by improved sales opportunities including AI-related investment. Input price inflation accelerated for a third month to its highest since May; average costs jumped mainly on higher fuel and transport costs, rising wages and energy prices.