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. source: Markit Economics
Services PMI in the United Kingdom averaged 53.21 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.