FX.co ★ UK Services Sector Struggles

The S&P Global UK Services PMI for April 2025 was slightly adjusted upward to 49 from an initial estimate of 48.9, though it fell short of March's reading of 52.5. This latest figure indicates a renewed downturn in business activity, concluding a 17-month streak of expansion. In April, new business intake saw its third decline in four months, influenced by a dip in business investment and client confidence following announcements of U.S. tariffs and the ensuing market instability. Export sales suffered notably, with the total new work from overseas dropping at its most accelerated rate since February 2021.