The IHS Markit/CIPS UK Services PMI was revised higher to 53.6 in December of 2021 from a preliminary of 53.2 and below the previous month's 58.5. The latest reading pointed to the worst month for business activity growth since the rebound from lockdown measures began last spring as the Omicron variant led to a steep fall in spending on face-to-face consumer services, escalating business uncertainty and disruptions due to staff absences. On a more positive note, job creation remained relatively strong, cost pressures eased from November's peak and output growth expectations improved slightly. Around 55% of the survey panel anticipate a rise in activity over the course of 2022, while only 10% forecast a decline. source: Markit Economics
Services PMI in the United Kingdom averaged 53.27 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 January of 2022.
Services PMI in the United Kingdom is expected to be 55.20 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 53.60 points in 2023 and 54.30 points in 2024, according to our econometric models.