The IHS Markit/CIPS UK Services PMI jumped to 56.6 in July 2020 from the previous month's 47.1 and well above market expectations of 51.5, a preliminary estimate showed. The latest reading signaled the fastest pace of expansion in the sector since July 2015 as many businesses continued to reopen following the COVID-19 lockdown. New orders returned to growth, while there were also reports that initial levels of demand had been weaker-than-expected. Meanwhile, employment continued to fall amid concerns about the speed of recovery, as well as a strong upturn in non-staff costs.

Services PMI in the United Kingdom averaged 53.09 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 July of 2020. source: Markit Economics

Services PMI in the United Kingdom is expected to be 45.00 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 54.00 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.

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United Kingdom Services PMI

Actual Previous Highest Lowest Dates Unit Frequency
56.60 47.10 62.50 13.40 2007 - 2020 points Monthly


News Stream
UK Service Sector Output Growth at 5-Year High
The IHS Markit/CIPS UK Services PMI jumped to 56.6 in July 2020 from the previous month's 47.1 and well above market expectations of 51.5, a preliminary estimate showed. The latest reading signaled the fastest pace of expansion in the sector since July 2015 as many businesses continued to reopen following the COVID-19 lockdown. New orders returned to growth, while there were also reports that initial levels of demand had been weaker-than-expected. Meanwhile, employment continued to fall amid concerns about the speed of recovery, as well as a strong upturn in non-staff costs.
2020-07-24
UK Service Sector Contracts at Slower Pace in June
The IHS Markit/CIPS UK Services PMI stood at 47.1 in June 2020, little-changed from a preliminary estimate of 47.0 and compared to May's final reading of 29.0, still pointing to a deterioration in business conditions across the UK service sector. Inflows of new work fell the least since March following an easing of lockdown measures and reopening of the UK economy, while export sales continue to decrease at a steep rate due to ongoing international travel restrictions. The rate of job shedding also eased from the previous month, while backlogs of work continued to decline.
2020-07-03
UK Service Sector Shrinks Less than Expected
The IHS Markit/CIPS UK Services PMI climbed to 47 in June 2020 from 29 in the previous month and above market consensus of 40, a preliminary estimate showed. The latest reading signalled the slowest pace of decline in service sector output since the start of the downturn in March. Financial Intermediation was the best performing area of activity, followed by Transport & Communication Services amid a boost in demand following the gradual restart of activity across the UK economy. Meanwhile, overall service sector output was held back by business closures in the Hotels, Restaurants & Catering category and another steep downturn signalled by Business-to-Business service providers. The latest survey indicated a further sharp drop in staffing numbers despite some companies reporting a restart to recruitment activity and phased returns to work after furlough leave.
2020-06-23
UK Services PMI Revised, Still Second-Lowest on Record
The IHS Markit/CIPS UK Services PMI was revised higher to 29.0 in May 2020 from a preliminary estimate of 27.8 and compared to April's record low of 13.4. It was still the second-lowest reading since the survey began in July 1996, with travel, tourism and leisure firms being the most affected amid the coronavirus pandemic. New business continued to fall at a sharp rate, with new export work falling rapidly despite sporadic reports of rising demand in the Asia-Pacific region and new online sales initiatives. In addition, employment decreased at the second-steepest rate on record. On the price front, both input costs and output charges continued to fall.
2020-06-03

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. .