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. 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 June of 2022.

Services PMI in the United Kingdom is expected to be 54.40 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.

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



Related Last Previous Unit Reference
Services PMI 53.40 58.90 points May 2022
Manufacturing PMI 54.60 55.80 points May 2022
Composite PMI 53.10 58.20 points May 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
53.40 58.90 62.90 13.40 2007 - 2022 points Monthly

News Stream
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
United Kingdom Services PMI at 15-Month Low
The S&P Global/CIPS UK Services PMI tumbled to 51.8 in May of 2022 from 58.9 in April, well below forecasts of 57, preliminary estimates showed. The latest reading pointed to the weakest growth in services activity since February 2021 with survey respondents often noting that economic and geopolitical uncertainty had contributed to a slowdown in client demand. However, many businesses in the travel, leisure and events sector still commented on strong growth conditions due to a rapid recovery from pandemic restrictions. On the price front, average cost burdens rose to the highest level since the survey began in July 1996. Finally, business expectations fell by the most since March 2020.
2022-05-24
UK Services PMI Revised Higher
The S&P Global/CIPS UK Services PMI was revised higher to 58.9 in April of 2022 from a preliminary of 58.3, but remaining below 62.6 in March. Although the service sector remained firmly inside growth territory, there were signs that sustained increases in the cost of doing business and the war in Ukraine combined to limit the pace of expansion at the start of the second quarter. In particular, new business growth slowed sharply and was the weakest in the year-to-date. Meanwhile, business confidence dropped to the lowest for a year-and-a-half. The evidence around the extent of inflationary pressures was stark. Input costs rose to the greatest extent in close to 26 years of data collection, with energy, fuel and wages all widely reported as being up in price over the month. In turn, companies raised their own charges at a pace that was only fractionally below March's record.
2022-05-05