The IHS Markit/CIPS UK Services PMI jumped to 58.0 in October 2021, up from 55.4 in the previous month and defying market expectations of 54.5, a preliminary estimate showed. The latest reading pointed to the fastest expansion in the sector since July, although still softer than the peak seen in May, on the back of a sustained boost to client spending following the roll back of pandemic restrictions, including an expansion of export sales. Meanwhile, staffing and supply shortages weighed on growth. New business volumes rose the most since June, also driven by strong domestic demand. On the price front, cost burdens increased at the fastest rate since the survey began in July 1996. source: Markit Economics
Services PMI in the United Kingdom averaged 53.24 points from 2007 until 2021, reaching an all time high of 62.90 points in May of 2021 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 2021.
Services PMI in the United Kingdom is expected to be 54.50 points by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the United Kingdom Services PMI is projected to trend around 54.00 points in 2022 and 53.60 points in 2023, according to our econometric models.