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. 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 February 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.