UK businesses enjoyed a boost in activity last month despite tax threats.

UK businesses enjoyed a boost in activity in October due to improved demand for good, a leading survey has indicated, in signs that the momentum in growth was growing ahead of the Budget.

S&P Global’s purchasing managers’ index ( PMI ) has offered the Chancellor and the Bank of England some positive relief ahead of crucial policy decisions in the next month.

The latest PMI showed the composite index rose to its second highest level since September last year at 52.2, slightly above the 50-figure benchmark for no change in output.

The figure was higher than analysts predicted and a previous ‘flash’ estimate for output levels in the UK economy.

The services PMI also jumped to 52.3 in October.

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