Purchasing manager’s index at eight-month high, bolstered by spending on AI as firms regain momentum lost to Iran war
The Bank of England is expected to raise interest rates on Thursday after a closely watched survey showed growth across the UK’s services sector leapt last month to an eight-month high, bolstered by spending on artificial intelligence.
S&P Global’s survey of the services sector in October showed businesses regained much of the momentum they lost after the start of the Iran war, but also felt the impact of a renewed spurt of input price inflation, which accelerated to a five-month high.
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