UK Business Activity Hits 22 Month High in February

The latest S&P Global Market Intelligence flash survey showed UK Output Index rising to 53.9% from 53.7%, a 22 month high and fastest expansion since April 2024. Manufacturing output climbed to 53.6%, a 17 month high, while the Manufacturing PMI reached 52.0%. Meanwhile Services activity dipped 53.9%, a two-month low. New work rose for a third month at the fastest pace since September 2024. Despite stronger activity, employment fell for a 17th month, led by service sector job losses and hiring freezes. Backlogs declined again, Input costs rose sharply, though inflation slowed to a three-month low, while prices charged increased at the fastest rate since April 2025.