The IHS Markit/CIPS UK Services PMI fell to 52.3 in October of 2020 from 56.1 in the previous month and well below market forecasts of 54, a preliminary estimate showed. The latest reading pointed to the worst performance for the sector since June, indicating a sharp loss of momentum across the service economy, with business activity growth easing for the second month running. Moreover, there was a reversal in customer demand, as signalled by a drop in new work for the first time since June, which contributed to another steep fall in staffing numbers. Finally, business expectations for the next 12 months worsened in October. source: Markit Economics

Services PMI in the United Kingdom averaged 53.13 points from 2007 until 2020, reaching an all time high of 62.50 points in October of 2013 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 2020.

Services PMI in the United Kingdom is expected to be 49.20 points by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Services PMI in the United Kingdom to stand at 53.20 in 12 months time. In the long-term, the United Kingdom Services PMI is projected to trend around 52.00 points in 2021 and 52.90 points in 2022, according to our econometric models.

Ok
The Trading Economics Application Programming Interface (API) provides direct access to our data. It allows API clients to download millions of rows of historical data, to query our real-time economic calendar, subscribe to updates and receive quotes for currencies, commodities, stocks and bonds.

API Features Documentation Interested? Click here to contact us
Please Paste this Code in your Website
width
height
 Preview
United Kingdom Services PMI

Actual Previous Highest Lowest Dates Unit Frequency
52.30 56.10 62.50 13.40 2007 - 2020 points Monthly


News Stream
UK Services PMI Below Expectations at 4-Month Low
The IHS Markit/CIPS UK Services PMI fell to 52.3 in October of 2020 from 56.1 in the previous month and well below market forecasts of 54, a preliminary estimate showed. The latest reading pointed to the worst performance for the sector since June, indicating a sharp loss of momentum across the service economy, with business activity growth easing for the second month running. Moreover, there was a reversal in customer demand, as signalled by a drop in new work for the first time since June, which contributed to another steep fall in staffing numbers. Finally, business expectations for the next 12 months worsened in October.
2020-10-23
UK Service Sector Expansion Remains Marked
The IHS Markit/CIPS UK Services PMI was revised higher to 56.1 in September 2020, from a preliminary estimate of 55.1 and compared to an over five-year high of 58.8 hit in August. The latest reading signaled the weakest performance for the sector in three months and the first setback for the recovery since the turnaround began in May. New business growth slowed following the withdrawal of the UK government's Eat Out to Help Out scheme and an introduction of some tighter restrictions on activity. In addition, the rate of job losses was again marked amid evidence of ongoing spare capacity, while backlogs of work increased modestly during September, and for the first time in two years. On the price front, operating expenses rose for a third straight month, while output charges declined due to competitive pressures, efforts to drum-up new business and promotional activities. Finally, sentiment about the year ahead remained comfortably inside positive territory.
2020-10-05
UK Service Activity Growth Slows in September
The IHS Markit/CIPS UK Services PMI dropped to 55.1 in September 2020, from an over five-year high of 58.8 in August and compared to market expectations of 56.0, a preliminary estimate showed. The latest reading signaled the weakest performance for the sector in three months and the first setback for the recovery since the turnaround began in May. Business activity growth was supported by stronger housing market conditions, rising demand for digital services and greater domestic tourism. However, large parts of the service economy continued to cite a severely negative impact on activity from the pandemic, especially those operating in transport services, international travel, hospitality and consumer-facing areas. Looking ahead, business confidence eased to a four-month low amid worries about renewed restrictions due to COVID-19.
2020-09-23
UK Service Sector Activity Growth at Over 5-Year High
The IHS Markit/CIPS UK Services PMI was revised lower to 58.8 in August 2020 from a preliminary estimate of 60.1 and compared to July's final 56.5. The latest reading pointed to the steepest month of expansion since April 2015 due to the reopening of the UK economy after the lockdown period in the second quarter. Inflows of new work increased the most since December 2016 helped by stronger demand across the housing market, rising spending as a result of the UK government's Eat Out to Help Out scheme. Meanwhile, new work from abroad decreased for the seventh successive month, while employment and backlogs of work continued to fall. On the price front, input cost inflation slowed amid subdued wage pressures, while average prices charged by service providers were broadly unchanged. Lastly, business confidence eased for the first time since March amid concerns about the strength of the recovery as government support measures taper off.
2020-09-03

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. .