The IHS Markit/CIPS UK Services PMI was revised lower to 56.3 in March 2021, from a preliminary estimate of 56.8 and compared with February's final 49.5. The latest reading signaled the fastest rate of output expansion for seven months, supported by an increase in total new work for the first time in six months due to stronger client demand and forward bookings ahead of easing lockdown measures. At the same time, backlogs of work were up for the first time since September 2020 and the rate of job creation was the fastest since June 2019. On the price front, input cost inflation was the highest for nearly three years, while prices charged by service providers rose at the sharpest pace since November 2017. Looking ahead, business expectations improved for the fifth consecutive month. source: Markit Economics

Services PMI in the United Kingdom averaged 52.99 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 April of 2021.

Services PMI in the United Kingdom is expected to be 54.00 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 53.20 in 12 months time. In the long-term, the United Kingdom Services PMI is projected to trend around 52.90 points in 2022 and 53.60 points in 2023, according to our econometric models.

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United Kingdom Services PMI

Actual Previous Highest Lowest Dates Unit Frequency
56.30 49.50 62.50 13.40 2007 - 2021 points Monthly


News Stream
UK Service Sector Returns to Growth in March
The IHS Markit/CIPS UK Services PMI was revised lower to 56.3 in March 2021, from a preliminary estimate of 56.8 and compared with February's final 49.5. The latest reading signaled the fastest rate of output expansion for seven months, supported by an increase in total new work for the first time in six months due to stronger client demand and forward bookings ahead of easing lockdown measures. At the same time, backlogs of work were up for the first time since September 2020 and the rate of job creation was the fastest since June 2019. On the price front, input cost inflation was the highest for nearly three years, while prices charged by service providers rose at the sharpest pace since November 2017. Looking ahead, business expectations improved for the fifth consecutive month.
2021-04-07
UK Services Activity Growth at 7-Month High
The IHS Markit/CIPS UK Services PMI posted 56.8 in March of 2021, up from 49.5 in February and above market expectations of 51, a preliminary estimate showed. The latest reading pointed to the first expansion in the services sector since October 2020. Moreover, the rate of business activity expansion was the strongest seen since August 2020. March data also signalled a return to growth for new orders and employment across the service economy. Service providers widely commented on improving consumer confidence and signs of pent-up demand. Expectations of rising sales after the national lockdown, and a boost to sentiment from the successful UK vaccine rollout, contributed to an increase in business optimism to its highest since January 2004.
2021-03-24
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

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. .