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.