UK Services PMI Revised Lower

EthereumCraftsman · 2026-02-04T09:45:18+00:00

The S&P Global UK Services PMI increased to 54 in January, indicating solid new business growth despite challenges in some sectors. Employment continues to decline, and input costs rise, but business optimism is improving.

EthereumCraftsman

2026-02-04 09:45:18

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The S&P Global UK Services PMI rose to 54 in January from 51.4 in December, below preliminary estimates of 54.3 but still the highest since August 2025. New business grew at a solid pace and reached a 3-month high, supported by higher client spending, digital marketing budgets and investment in new technologies, while subdued household demand and weak construction activity weighed on some sectors. Export orders rose modestly, with firms citing stronger demand from Europe, particularly Ireland. Employment remained under pressure, with staffing levels falling for a fourth straight month and marking the longest period of job losses in 16 years, as firms focused on cost control and automation. Input costs rose sharply, driven mainly by higher payroll, technology and raw material costs, prompting the steepest increase in prices charged since August 2025. Business optimism improved to the highest since October 2024, although concerns about costs and long-term growth persisted.

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