Economist: UK PMI data shows that businesses are demonstrating resilience before the budget announcement.

Economists at Pantheon Macroeconomics stated in a report that the final Purchasing Managers' Index data for November in the UK was better than expected, indicating that businesses are still resilient amidst uncertainty before the budget announcement. The S&P Global Services PMI for November was at 51.3, lower than October's level but higher than the initial estimate, and still above the 50.0 mark which indicates a turning point in activity improvement. These economists said that business activity is expected to rebound in December once the budget announcement brings clarity to fiscal measures.