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Business and monetary companies lifted the UK's companies sector
The UK companies sector reported its quickest rise in exercise since final October, lifting expectations of an imminent curiosity rate rise.
The buying managers' index (PMI) from IHS Markit/CIPS confirmed exercise rose to 55.1 in June, up from 54.
IHS chief enterprise economist Chris Williamson mentioned the studying added to indicators that "the economy rebounded in the second quarter".
He mentioned it now "opens the door for an August rate hike".
IHS Markit estimated that UK gross home product (GDP) grew by zero.4% within the second quarter between April and June in contrast with zero.2% within the first three months of the yr.
Mr Williamson mentioned: "The sharp rise in business costs, linked to surging oil prices and the need to offer higher wages, suggests inflation will also pick up again from its current rate of 2.4%."
Activity within the UK companies sector makes up practically 80% of the UK's GDP.
The survey of buying managers discovered that new work elevated strongly in June, specifically for enterprise and monetary companies.
Overall, exercise grew on the strongest tempo since October 2017.
It follows higher than anticipated development within the UK building sector for June, in accordance to IHS Markit/CIPS, and likewise a modest uptick for manufacturing throughout the identical month.
However, IHS Markit/CIPS mentioned: "Nonetheless, there were again reports that Brexit-related uncertainty had held back business investment, particularly in relation to spending by large corporate clients."