The S&P Global/CIPS UK Services PMI came in at 53.4 in June 2022, the same as in the previous month and above market expectations of 53, flash estimates showed. A sustained recovery in events and other areas of face-to-face consumer spending helped to boost business activity in the service economy. However, many survey respondents also cited growth headwinds from the cost of living crisis and heightened economic uncertainty. Despite weaker new business growth, the latest survey signalled a robust and accelerated rise in staffing numbers. Looking to prices, service providers typically noted higher salary payments, fuel costs and the impact of supply shortages. Finally, service providers reported the lowest degree of business optimism since May 2020. source: Markit Economics
Services PMI in the United Kingdom averaged 53.40 points from 2007 until 2022, 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 July of 2022.
Services PMI in the United Kingdom is expected to be 52.80 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.