UK business activity hits highest level in nearly two years as interest rate cut bets recede
Strong business activity data for January exceeded forecasts and led investors to scale back expectations for imminent Bank of England interest rate cuts.
Insights:
The S&P Global UK Composite Purchasing Managers Index for January reached 53.9, marking the highest level since April 2024 and signaling the fastest business activity upturn since the government of Prime Minister keir starmer took office in 
GB. This stronger-than-expected economic data exceeded all economist forecasts in a Reuters poll, representing a significant rise from the 51.4 reading recorded in December.
GB. This stronger-than-expected economic data exceeded all economist forecasts in a Reuters poll, representing a significant rise from the 51.4 reading recorded in December.
