Economic Buzz: UK business activity back to growth in July

Private sector activity in the United Kingdom recovered in July, returning to the expansion territory, according to a preliminary report by S&P Global on Friday.

The PMI Composite Output Index stood at 52.1, up from 49.3 in June. The services PMI rose to a three-month high, landing at 51.8, while the manufacturing PMI increased from 52.5 in June to 52.8 in July. Input price inflation slowed down in the reported month, while business activity expectations were the most optimistic since February.

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