FX.co ★ UK Services Sector Accelerates in January as S&P Global PMI Climbs to 54.0

The United Kingdom’s services sector strengthened in January, with the S&P Global Services PMI rising to 54.0 from a previous reading of 51.4. The latest data, updated on 4 February 2026, points to a faster pace of expansion in the country’s dominant services industry.

A PMI reading above 50 signals growth, and the move from 51.4 to 54.0 suggests improving business conditions across areas such as finance, professional services, hospitality and transport. The stronger January figure indicates that demand and activity in the UK services economy gained momentum at the start of 2026.

The acceleration in services activity is likely to be closely watched by investors and policymakers, as the sector is a key driver of UK output and employment. The firmer reading at 54.0 may also influence expectations around the broader economic outlook for the first quarter of 2026.