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UK services sector grows at fastest pace since August, PMI shows
- The UK services sector grew at its fastest pace in 10 months with the S&P Global PMI scoring 52.8 in June.
- This expansion was driven by a recovery in spending from UK consumers and businesses following a weak period in the spring, alongside a reduction in price pressures.
- Despite this, service firms cut staff for the ninth consecutive month due to reluctance to hire amid rising payroll costs.
- Tim Moore indicated that reduced inflationary pressures together with a decline in employment create favorable conditions for the Bank of England to potentially restart its sequence of interest rate reductions in August.
- The data suggests a modest recovery tempered by shrinking export sales, supporting expectations for another Bank of England rate cut next month.
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UK services sector grows at fastest pace since August, PMI shows
British services sector activity expanded at the fastest rate in nearly a year in June, and the prices they charged rose at the slowest pace in almost four years, according to a survey on Thursday that is likely to be welcomed by the Bank of England.
·United Kingdom
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Irish News+4 Reposted by 4 other sources
Service sector grows at 10-month high as inflation slows
Experts said a ‘turnaround’ in spending by UK businesses and consumers helped to support the industry.
·Northern Ireland, United Kingdom
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Services industry grows at fastest rate for 10 months as cost pressures ease - Business Fast
The S&P Global UK services PMI survey gave the industry a score of 52.8By HARRY WISE Updated: 13:46 BST, 3 July 2025 The UK's services sector expanded at its quickest rate for 10 months in June, as inflation pressures eased.The closely-watched S&P Global UK Services Purchasing Managers' Index report gave the industry a score of 52.8 for
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