By Lars Mucklejohn UK business output has jumped to its highest level in two years, according to a closely-watched survey, as the expectation of more interest rate cuts provide optimism for the coming months. Research by advisory group BDO found that output reached its highest level since July 2022 last month, driven by manufacturing and services. Its output index rose 2.67 points to 100.77 in July, suggesting growth above historic trends. Above 95 signals growth. Manufacturing rebounded to 100.03 in July, from a sub-95 reading in June. Services also surpassed the 100 threshold for the first t…