FX.co ★ UK Services Sector Growth Beats Forecasts

The S&P Global UK Services PMI rose to 53.1 in October 2026 from 52.1 in September, beating market expectations of 51.8, according to flash estimates. The latest data indicate that overall growth in the services sector accelerated to its fastest pace in eight months, driven primarily by a strong upturn in new orders.

Many firms reported a boost to sales from increased AI-related investment and stronger demand for technology services. Employment growth also resumed in October, supported by an influx of new projects and a strategic focus on long-term business expansion, though a cautious approach to hiring remained widespread.

Price pressures stayed elevated. At the same time, business sentiment strengthened, with service providers pointing to planned investment in new products and marketing initiatives, as well as a gradual improvement in expectations for broader market conditions.