The S&P Global/CIPS UK Services PMI fell to 49.2 in September of 2022 from 50.9 in August, missing market expectations of 50, flash estimates showed. This marked the first drop in services activity since February 2021, though the rate of decline was only marginal. There were a number of reports that a slowdown in sales amid the cost of living crisis and rising economic uncertainty had weighed on activity levels in September. Looking ahead, expectations in the service sector hit 28-month lows. source: Markit Economics

Services PMI in the United Kingdom averaged 53.36 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 October of 2022.

Services PMI in the United Kingdom is expected to be 50.00 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 49.20 50.90 points Sep 2022
Manufacturing PMI 48.50 47.30 points Sep 2022
Composite PMI 48.40 49.60 points Sep 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
49.20 50.90 62.90 13.40 2007 - 2022 points Monthly

News Stream
UK Services Sector Contracts for 1st Time since February 2021
The S&P Global/CIPS UK Services PMI fell to 49.2 in September of 2022 from 50.9 in August, missing market expectations of 50, flash estimates showed. This marked the first drop in services activity since February 2021, though the rate of decline was only marginal. There were a number of reports that a slowdown in sales amid the cost of living crisis and rising economic uncertainty had weighed on activity levels in September. Looking ahead, expectations in the service sector hit 28-month lows.
2022-09-23
UK Services Sector Narrowly Escapes Contraction
The S&P Global/CIPS UK Services PMI was revised sharply lower to 50.9 in August of 2022 from a preliminary estimate of 52.5, the softest expansion in services activity in 18 months as inflationary pressures and the cost-of-living squeeze resulted in heightened economic uncertainty and reduced client confidence. The latest reading showed that inflows of new business rose at a much softer pace, with growth down to an over one-year low as sky-high inflation and growing recessionary fears continued to curb domestic and overseas demand. Meanwhile, the labor market remained resilient despite such macro headwinds. Firms reported higher operating costs despite input inflation easing slightly to an eight-month low. As a result, firms continued to pass on these costs to clients, resulting in a surge in output charges. Finally, confidence about the future was again historically subdued.
2022-09-05
UK Services PMI Beats Expectations in August
The S&P Global/CIPS UK Services PMI edged down to 52.5 in August of 2022 from 52.6 in July, much better than market expectations of 52, flash estimates showed. Still, it was the softest increase in a year-and-a-half. The rate of new business increase was only mild, despite quickening on the month and the rate of job creation was strong. On the price front, the rate of cost inflation picked up slightly on the month. Service providers typically noted higher salary payments, often spurred by rising living costs, though greater expenses for energy and fuel were also widely cited. Services companies expressed slightly stronger confidence compared to July, with growth forecasts often attributed to investment in the development and release of new products, ongoing recovery from COVID-19 and projected increases in customer demand.om 52.60 points in July of 2022.
2022-08-23