According to Jin10, UK services returned to growth in July as new orders increased, while expectations for business activity over the next 12 months rose to their highest level since before the Iran war began in February. The final UK services PMI rose to 52.1 from 48.8 in June, above the preliminary reading of 51.8, and the composite PMI climbed to 52.2 from 49.3. S&P Global said the total new business index for services rose to 50.8 from 47.6, its highest since February, ending four straight months of declines since the Iran war began, while new export orders fell for a fifth consecutive month but by the smallest margin in that period. Business confidence also rose to its highest level since February, and S&P Global Market Intelligence economics director Tim Moore said stronger growth expectations for the year ahead partly reflected hopes of easing tensions in the Middle East and signs of recent easing inflation pressures.