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. 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 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 54.30 53.40 points Jun 2022
Manufacturing PMI 52.80 54.60 points Jun 2022
Composite PMI 53.70 53.10 points Jun 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
54.30 53.40 62.90 13.40 2007 - 2022 points Monthly

News Stream
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
UK Services PMI Above Expectations in June
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.
2022-06-23
UK Services PMI Revised Higher, Still 15-Month Low
The S&P Global/CIPS UK Services PMI was revised higher to 53.4 in May of 2022 from a preliminary estimate of 51.8, but remaining well below the 58.9 from the prior month. The latest reading pointed to the weakest growth in services activity since February of 2021, reflected by a further slowdown in new order growth and new business expansions, with some service providers citing lower demand due to higher prices charged, while others stated supply shortages hampered consumer spending. Still, data from May pointed to another period of robust job growth in the sector, extending the previous month’s increase by a similar magnitude, even though surveyors reported low application numbers to fill vacancies. On the price front, escalating costs for energy, fuel, and raw materials, alongside significant wage increases, drove inflationary pressures to a survey high. Looking forward, softer demand and inflationary concerns pressed business sentiment to a 17-month low.
2022-06-07