UK Economy Rebounds but Job Losses Persist as Bond Turmoil Drags Yields Higher

The UK private sector expanded at the fastest pace in four months during August, with the S&P Global PMI rising to 52.5 from July's 52.2, signaling renewed economic momentum. Yet this growth surge has failed to halt a record-breaking streak of 23 consecutive months of private sector job losses — the longest since PMI surveys began in 1996.

Behind the Data

The services sector powered the August rebound, offsetting a slowdown in manufacturing where the PMI...