The S&P Global/CIPS UK Services PMI was revised lower to 52.6 in July of 2022 from a preliminary estimate of 53.3, pointing to the softest expansion in services activity in 17 months as inflationary pressures and the cost-of-living squeeze resulted in heightened economic uncertainty. New business gains were limited as a result. Both operating expenses and average prices charged continued to rise at elevated rates, despite inflation easing considerably since June. Meanwhile, confidence about the future remained at an historically subdued level. More positive news was the continued strength of the labour market, with jobs again added at a strong pace. That was despite continued challenges in the recruitment of suitably qualified staff. 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 August of 2022.

Services PMI in the United Kingdom is expected to be 53.80 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.

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United Kingdom Services PMI



Related Last Previous Unit Reference
Services PMI 52.60 54.30 points Jul 2022
Manufacturing PMI 52.10 52.80 points Jul 2022
Composite PMI 52.10 53.70 points Jul 2022

United Kingdom Services PMI
The S&P Global/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. .
Actual Previous Highest Lowest Dates Unit Frequency
52.60 54.30 62.90 13.40 2007 - 2022 points Monthly

News Stream
UK Services PMI Revised Lower in July
The S&P Global/CIPS UK Services PMI was revised lower to 52.6 in July of 2022 from a preliminary estimate of 53.3, pointing to the softest expansion in services activity in 17 months as inflationary pressures and the cost-of-living squeeze resulted in heightened economic uncertainty. New business gains were limited as a result. Both operating expenses and average prices charged continued to rise at elevated rates, despite inflation easing considerably since June. Meanwhile, confidence about the future remained at an historically subdued level. More positive news was the continued strength of the labour market, with jobs again added at a strong pace. That was despite continued challenges in the recruitment of suitably qualified staff.
2022-08-03
UK Services Sector Slows Less than Expected
The S&P Global/CIPS UK Services PMI went down to 53.3 in July of 2022 from 54.3 in June, above market expectations of 53, flash estimates showed. Still, the latest reading pointed to the softest expansion in services activity in 17 months. New order volumes were sustained in July amid resilient consumer spending on travel and leisure services. On the price front, intense wage pressures due to shortages of staff and rising consumer price inflation had continued to push up their cost burdens. Looking ahead, some service sector firms commented on hopes of only a brief slowdown in client demand and a longer-term boost from COVID-19 recovery and improving supply capacity.
2022-07-22
UK Services PMI Revised Higher
The S&P Global/CIPS UK Services PMI was revised higher to 54.3 in June of 2022 from a preliminary estimate of 53.4, picking up from the 53.4 in the prior month. The rebound was underpinned by a sharp increase in business activity during the month amid rising consumer spending on travel, leisure, and events. Still, firms surveyed noted less favorable demand conditions as new work grew at the slowest pace in 16 months, despite strong export sales. Meanwhile, data from June pointed to continued job creation in the services sector, although companies cited difficulties in recruitment and retention of employees. On the price front, rising costs for energy, fuel, and staff wages carried the cost inflation to near survey-records touched last month, with firms significantly hiking prices charges as well. Looking forward, business confidence in the sector fell to its lowest since May of 2020 amid rising recession risks, lower demand, and high inflation.
2022-07-05