The closely watched S&P Global flash UK composite purchasing managers’ index (PMI) reported a reading of 53.9 in January, lifting from 51.4 in December. Chris Williamson, chief business economist at S&P Global Market Intelligence, said: “UK businesses kicked up a gear in January, showing encouraging resilience in the face of recent geopolitical tensions. “Companies are reporting higher demand, both from home and export markets, which has driven output growth to the fastest since April 2024. “Firms are also reporting the greatest optimism about the business outlook since before the 2024 autumn budget.”The research indicated that growth in the UK’s services industry also reached a 21-month high in January. Manufacturing output also rose during the month, hitting its strongest level since October, and some goods firms reported improving export sales.

Source: The Times January 23, 2026 10:58 UTC