United Kingdom Services PMI

Last Release

Apr 30, 2024

Actual

54.9

Units In

Points

53.1

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	53.24 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 rose to 54.9 in April 2024 from 53.1 in March and above market forecasts of 53, preliminary estimates showed. The lastest reading indicated the sixth consecutive month of expansion in the country's services sector and the strongest in almost a year. Companies reported rising business and consumer spending, supported by a recovery in broader economic conditions. However, cost pressures intensified during the month, due to rising wages particularly in the hospitality and leisure sector. Finally, business activity expectations for the next 12 months remained upbeat.