UK businesses have reported the strongest growth for eight months, according to new figures, in a positive signal ahead of the Budget .

New early figures showed that firms were boosted by the sharpest rise in new work for two years.

The closely watched S&P Global flash UK composite purchasing managers’ index (PMI) – which is based on preliminary data from the manufacturing and services sectors – recorded a reading of 53.1 for October.

It represented an improvement from a 52 reading in September and marked the fastest growth since February.

The performance was also significantly stronger than expected, with economists having forecast a rate of 51.7 for the month.

Any score above 50.0 indicates activity is growing while any score below means it is contracting.

The data highlighted growing output in both the manufacturing and services sectors.

Total new work across the private sector increased at its fastest rate since September 2024 as firms highlighted a “general recovery” in customer demand.

A number…