United Kingdom Services PMI

Last Release

Jul 31, 2024

Actual

52.5

Units In

Points

52.1

Frequency

Monthly

Next Release

N/A

Time to Release

N/A

Highest	Lowest	Average	Date Range	Source
62.9 May 2021	13.4 Apr 2020	53.23 Points	2007-2024	Markit Economics

The Markit/CIPS UK Services PMI (Purchasing Managers' Index) is based on data collected from companies in the transport and communication sector, financial intermediation, business services, personal services, computing and IT and hotels and restaurants. The index tracks variables such as sales, employment, inventories and prices. A reading above 50 indicates that the services sector is generally expanding; below 50 indicates that it is generally declining. .

Latest Updates

The S&P Global UK Services PMI eased to 50 in November 2024 from 52 in the month before, missing market expectations of 52, according to a flash estimate. The latest reading indicated unchanged levels of business activity in November, after two consecutive months of slowdown. Service providers primarily attributed challenges to weak business confidence and client caution following the Autumn Budget. Staffing numbers were reduced again. On the price front, inflationary pressures intensified, with input prices rising at the steepest pace due to strong salary demands, along with higher technology costs, food prices, and energy bills. In turn, selling price inflation slowed slightly since October. Lastly, business sentiment weakened due to anticipated increases in payroll costs, coupled with perceived barriers to expanding investments and hiring additional staff.