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U.K. Services Strength ‘Marred’ by Accelerating Inflation

  • PMI index gains to 54.5 in October from 52.6 in September
  • Price rises risk curbing hiring and consumer spending: Markit
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Growth of the U.K.’s dominant services industry accelerated in October, emphasizing the economy’s resilience since the Brexit vote.

IHS Markit’s services Purchasing Managers Index rose to 54.5 in October, the highest since January and far above the 52.5 forecast in a Bloomberg survey. It also marked a third month above the 50 mark separating expansion from contraction.