US EditionUK services sector contracts at steepest pace since 2023, PMI shows
- In April 2025, the UK’s services sector experienced a marked decline, with the key industry performance index dropping to 49.0—the lowest level recorded in more than two years.
- This contraction followed rising global uncertainty, particularly due to US tariff announcements, which weakened overseas demand and business confidence.
- Service firms, including technology and financial sectors, reported delayed spending decisions and the weakest new international business levels since early 2021.
- Tim Moore, head of economics at S&P Global, noted that in April, the UK service sector experienced its first decline in output in 18 months, largely due to increased uncertainty among businesses affecting new orders.
- The contraction raises stagflation concerns, adding pressure on the Bank of England, as inflation remains above target while growth risks slowdowns or delays into 2027.
14 Articles
14 Articles
UK services sector contracts at steepest pace since 2023, PMI shows
Britain's services sector, accounting for much of the economy, shrank in April for the first time since October 2023 and at the fastest pace in more than two years, according to a survey that showed U.S. tariff turmoil is hammering exports and sentiment.
Economy in crisis: UK teeters on edge of stagflation as services sector shrinks for first time in 18 months
Troubling signs are emerging for the UK economy as pressure builds on businesses at home and abroad. New figures suggest confidence is wavering and conditions are becoming harder for key sectors.The UK’s services sector shrank last month for the first time since October 2023, according to the latest data from S&P Global. The figures show overseas demand has dried up, with service firms reporting the weakest levels of new international business i…
Evening Standard
UK services sector shrinks for first time in 18 months amid tariff worries
The S&P Global UK services PMI survey scored 49.0 in April, down from 52.5 in March.
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