FX.co ★ UK Services Sector Growth Accelerates to 13-Month High

In an encouraging sign for the UK economy, the latest S&P Global Services PMI for January 2026 has shown a significant uptick, reaching 54.3 from the previous 51.4 recorded in December 2025. This marks the highest level in 13 months, signaling robust growth in the services sector.

The January data, updated on 23 January 2026, highlights a positive momentum as the activity in the sector accelerates. This rise in the PMI index indicates a stronger demand for services, suggesting that businesses are experiencing an increase in new orders and a more optimistic outlook, following months of moderate expansion.

This trend in the services sector, which is a critical component of the UK economy, is crucial as it reflects greater consumer and business confidence. Analysts are closely watching these developments, as such growth could positively influence economic projections for the rest of the year, bolstering hopes for an enduring recovery amid ongoing global uncertainties.