The IHS Markit/CIPS UK Services PMI came in at 49.5 in February 2021, slightly weaker than the flash estimate of 49.7 and compared with January's eight-month low of 39.5. Still, the latest reading signaled the softest rate of decline since the current phase of contraction began in last November, as the country remains under lockdown. New order volumes decreased only marginally, despite a sharp decline in new work from abroad, while backlogs of work fell again due to a lack of forward-bookings and reduced pressure on business capacity. At the same time, the pace of job shedding was the slowest since the COVID-19 pandemic first hit employment numbers last March, helped by the government's furlough scheme. On the price front, input cost inflation hit a 12-month high, while output charges rose the most since February 2020. Looking ahead, business optimism improved to the strongest level since December 2006. source: Markit Economics

Services PMI in the United Kingdom averaged 52.97 points from 2007 until 2021, 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 March of 2021.

Services PMI in the United Kingdom is expected to be 51.00 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 52.00 in 12 months time. In the long-term, the United Kingdom Services PMI is projected to trend around 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.

Please Paste this Code in your Website
width
height
United Kingdom Services PMI

Actual Previous Highest Lowest Dates Unit Frequency
49.50 39.50 62.50 13.40 2007 - 2021 points Monthly


News Stream
UK February Services PMI Revised Slightly Lower
The IHS Markit/CIPS UK Services PMI came in at 49.5 in February 2021, slightly weaker than the flash estimate of 49.7 and compared with January's eight-month low of 39.5. Still, the latest reading signaled the softest rate of decline since the current phase of contraction began in last November, as the country remains under lockdown. New order volumes decreased only marginally, despite a sharp decline in new work from abroad, while backlogs of work fell again due to a lack of forward-bookings and reduced pressure on business capacity. At the same time, the pace of job shedding was the slowest since the COVID-19 pandemic first hit employment numbers last March, helped by the government's furlough scheme. On the price front, input cost inflation hit a 12-month high, while output charges rose the most since February 2020. Looking ahead, business optimism improved to the strongest level since December 2006.
2021-03-03
UK Service Sector Output Falls the Least in 4 Months
The IHS Markit/CIPS UK Services PMI jumped to 49.7 in February 2021, up from 39.5 in the previous month and well above market expectations of 41.0, a preliminary estimate showed. The latest reading signaled the softest rate of decline since the current phase of contraction began in last November, as the country remains under lockdown. New order volumes and employment numbers decreased only marginally, while business optimism improved to the strongest level since September 2009. The rates of contraction of the hospitality sector, including hotels and restaurants, and of the transport and travel sector eased considerably; while business and financial services companies meanwhile recovered to register modest expansions.
2021-02-19
UK Services PMI Revised Higher, Still Points to Big Contraction
The IHS Markit/CIPS UK Services PMI was revised higher to 39.5 in January of 2021 from a preliminary of 38.8 and compared to 49.4 in December. Still, the reading pointed to the sharpest contraction in the services sector since May of 2020 due to the impact of restrictions on trade and temporary business closures during the third national lockdown. Despite a sharp downturn in client demand due to the pandemic, business optimism improved for the third consecutive month and was the strongest since May of 2014, amid successful UK vaccine rollout so far in 2021 and hopes of a strong rebound in economic conditions as the pandemic situation improves.
2021-02-03
UK Service Sector Contracts the Most in 8 Months
The IHS Markit/CIPS UK Services PMI slumped to 38.8 in January 2021 from 49.4 in the previous month, well below market consensus of 45, a preliminary estimate showed. The latest reading pointed to a third successive month of contraction in the service sector and the steepest deterioration since May 2020. Lower levels of activity reflected cutbacks to both business and consumer spending at the start of 2021. Outside of the leisure, travel and hospitality sectors, survey respondents often noted that they had avoided temporary business closures during the third national lockdown, but client demand had softened considerably and new projects were delayed as a result. Hopes of a rebound in the second half of 2021 were signaled by a further rise in the business expectations index during January. The degree of positive sentiment reached its highest since April 2014.
2021-01-22

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. .