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2026-04-07 17:09:46
[UK March Services PMI Final Reading Revised Down to 50.5] ⑴ The final reading of the S&P Global UK Services Purchasing Managers' Index (PMI) for March was revised down to 50.5 from the preliminary reading of 51.2, lower than February's 53.9. This marks the slowest expansion in an 11-month streak of growth, driven by increased global economic uncertainty stemming from the Middle East conflict. ⑵ Output grew only slightly, with new business volume declining for the first time since November 2025, marking the largest contraction in eight months. Export orders also fell sharply, the fastest decline since April 2025. Headcount decreased further due to pressure on business capacity and the need to control rising wage costs. ⑶ Despite widespread shipping delays and supply chain disruptions, backlogs remained largely unchanged. Input cost inflation rose to an 11-month high, driven by rising fuel, transport, and raw material prices. Business activity expectations remained positive in March, but confidence weakened significantly from January's 15-month high.
