FX.co ★ UK Composite PMI Signals Modest Recovery

The S&P Global UK Composite PMI was adjusted upward to 50.3 in May 2025, surpassing the initial forecast of 49.4 and improving upon April's result of 48.5. This adjustment indicates a slight increase in private sector activity, albeit still marking the second-lowest performance since October 2023. The modest growth witnessed was primarily supported by an increase in services output, which successfully counterbalanced a significant decline in manufacturing production. Despite these gains, total new business experienced a decrease for the sixth consecutive month, prompting another substantial reduction in employment. On a brighter note, business confidence surged to its highest point in six months, signaling a more optimistic outlook.