October PMI® data highlighted a robust and accelerated increase in UK private sector business activity, with growth the strongest for three months. Survey respondents widely reported buoyant business and consumer spending due to the roll back of pandemic restrictions. Service providers led the recovery, but manufacturers signalled another slowdown in production growth due to severe shortages of staff and materials. Stronger wage pressures and the worsening global supply chain crisis contributed to the fastest rate of input price inflation at UK private sector companies since this index began in January 1998. At 56.8 ... (full story)