FX.co ★ UK Services Sector Growth Revised Upwards

In May 2025, the S&P Global UK Services PMI was adjusted upward to 50.9, slightly more optimistic than the initial 50.2 estimate, and a noticeable increase from April's 49 reading. This latest figure indicates a modest return to growth following the contraction experienced in April, as fears surrounding US tariffs have begun to diminish. Looking ahead, optimism for output growth has rebounded, following April's downturn related to tariff concerns, reaching its highest point since October 2024. This renewed confidence is attributed to planned business investments, expectations of a sales recovery, and improving domestic economic conditions.