The IHS Markit/CIPS UK Services PMI fell to 52.3 in October of 2020 from 56.1 in the previous month and well below market forecasts of 54, a preliminary estimate showed. The latest reading pointed to the worst performance for the sector since June, indicating a sharp loss of momentum across the service economy, with business activity growth easing for the second month running. Moreover, there was a reversal in customer demand, as signalled by a drop in new work for the first time since June, which contributed to another steep fall in staffing numbers. Finally, business expectations for the next 12 months worsened in October. source: Markit Economics
Services PMI in the United Kingdom averaged 53.13 points from 2007 until 2020, reaching an all time high of 62.50 points in October of 2013 and a record low of 13.40 points in April of 2020. This page provides the latest reported value for - United Kingdom Services PMI - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. United Kingdom Services PMI - data, historical chart, forecasts and calendar of releases - was last updated on October of 2020.
Services PMI in the United Kingdom is expected to be 49.20 points by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Services PMI in the United Kingdom to stand at 53.20 in 12 months time. In the long-term, the United Kingdom Services PMI is projected to trend around 52.00 points in 2021 and 52.90 points in 2022, according to our econometric models.