The IHS Markit/CIPS UK Services PMI was revised higher to 61.0 in April 2021, from a preliminary estimate of 60.1, signaling the fastest pace of expansion in the sector since October 2013 driven by sharp increases in business and consumer spending. By sub-category, by far the strongest momentum was seen among consumer services, driven by the reopening of some customer-facing parts of the economy, amid easing COVID-19 restrictions across the UK. Overall new business volumes rose the most since December 2013 and the rate of job creation accelerated to its fastest since October 2015. Despite efforts to rebuild business capacity, backlogs of work were accumulated to the greatest extent for nearly six years, which suggested that pent up client demand will continue to boost activity in the months ahead. Looking ahead, business expectations remained close to March's 14-year peak. source: Markit Economics
Services PMI in the United Kingdom averaged 53.04 points from 2007 until 2021, 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 May of 2021.
Services PMI in the United Kingdom is expected to be 54.00 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 52.90 points in 2022 and 53.60 points in 2023, according to our econometric models.