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UK Business Activity Accelerates Amid Fiscal Constraints
UK Business Activity Accelerates Amid Fiscal Constraints
22
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BTCCSquare news:
UK business activity surged to a 12-month high in August, defying economic headwinds as the S&P Global UK Composite PMI climbed to 53 from July's 51.5. Services-led growth outpaced manufacturing gains, marking a fourth consecutive month of expansion.
Public finances showed modest relief with a £1.1 billion July borrowing figure—£1 billion below forecasts—though Treasury officials face persistent revenue shortfalls. Chancellor Rachel Reeves prepares tough budgetary choices, including potential property tax reforms, to meet fiscal targets by 2029-30.
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