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.

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United Kingdom Services PMI


News Stream
UK Service Sector Expands Faster than Expected in October
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.
2021-10-22
UK Services Rise More than Anticipated
The IHS Markit/CIPS UK Services PMI was revised higher to 55.4 in September of 2021 from a preliminary of 54.6, pointing to another strong recovery in UK service sector activity, but severe supply constraints contributed to escalating inflationary pressures and the slowest rise in new orders since the end of the winter lockdown. Rapid rises in fuel, energy and staff costs were passed on to customers in September. The rate of prices charged inflation accelerated sharply since August and was the fastest since the survey began in 1996. Finally, latest data indicated that business optimism eased slightly since August. However, the majority of panel members (57%) expect a rise in output during the year ahead, while only 8% forecast a fall.
2021-10-05
UK Services PMI Eases to February-Lows
The IHS Markit/CIPS UK Flash Services PMI fell slightly to 54.6 in September of 2021 from 55 in August, slightly below forecasts of 55. The reading pointed to the slowest growth in the services sector in 7 months. Where business activity increased, companies reported improving customer confidence and an ongoing recovery from the COVID-19 pandemic. Total new orders increased at a solid but reduced pace, while new business from abroad was up only marginally again. The rate of job creation remained rapid, and was only slightly weaker than the series record in August. The rate of input price inflation accelerated amid reports of higher wage costs, product shortages and increased transportation costs. In turn, companies raised their own charges at the fastest pace since the series began in July 1996. Companies remained confident that activity will increase over the coming year, but sentiment was the lowest in the year-to-date.
2021-09-23
UK Services Activity Grows Less than Initially Thought
The IHS Markit/CIPS UK Services PMI was revised lower to 55.0 in August 2021, from a preliminary reading of 55.5 and below the previous month's 59.6. The latest reading pointed to the worst month for business activity growth since the current phase of recovery began in March, as new business growth lost momentum due to the end of the full stamp duty holiday and a subsequent cooling in consumer demand arising from residential property transactions. The pace of job creation picked up to its strongest since the survey began in July 1996, despite reports of staff shortages and amid a solid increase in backlogs of work. Meanwhile, the overall rate of cost inflation eased since the previous month, but was the second-fastest seen over the past 25 years. Finally, business confidence rebounded to its strongest since May.
2021-09-03

United Kingdom Last Unit Reference Previous Highest Lowest
Services PMI 58.00 points Oct/21 55.40 62.90 13.40
Manufacturing PMI 57.70 points Oct/21 57.10 65.60 32.60
Composite PMI 56.80 points Oct/21 54.90 62.90 13.80


United Kingdom Services PMI
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. .