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Growth in UK’s Services Industry Ends Two-Year Period of Job Cutting
Stronger demand and AI-related spending lifted orders, while the hiring rebound ended two years of job cuts, S&P Global said.
Summary
Growth in the UK’s services sector has risen to an eight-month high, with firms returning to hiring after a two-year period of job cutting, a new survey has shown.
The UK's service sector gained strength in October, driven by the recovery of new businesses and the improvement of domestic demand. The Service Purchasing Managers Index (PMI) advanced from 52.1 in September to 52.8 in October, reaching the highest level since February and signaling a more robust expansion of the activity. On the other hand, the Composted PMI rose from 52.0 to 52.9, also reaching the highest level in eight months and indicating…