Story perspectives

UK Economy Shows Growth Amid Job Cuts and Rising Demand

2/20/2026

Summary

Story summary

The S&P Global UK Composite Purchasing Managers' Index rose to 53.9 in February 2026, the highest since April 2024, signaling growth.
The data imply potential Gross Domestic Product (GDP) growth of 0.3% in the first quarter.
Despite growth, companies are cutting jobs, particularly in services, due to social security costs.
Manufacturing activity is improving.
Consumer demand recovers in tandem with rising export orders to the United States and Europe.

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Story summary

The S&P Global UK Composite Purchasing Managers' Index rose to 53.9 in February 2026, the highest since April 2024, signaling growth.
The data imply potential Gross Domestic Product (GDP) growth of 0.3% in the first quarter.
Despite growth, companies are cutting jobs, particularly in services, due to social security costs.
Manufacturing activity is improving.
Consumer demand recovers in tandem with rising export orders to the United States and Europe.