FX.co ★ UK Services Sector Slips Back Into Contraction

The S&P Global UK Services PMI declined to 48.9 in April 2025, down from the seven-month peak of 52.5 observed in March, and falling short of market expectations of 51.3, according to preliminary estimates. This latest figure indicates a return to contraction in business activity after a 17-month stretch of growth. Additionally, both new orders and employment experienced a downturn, attributed to increasing global economic uncertainties and tepid domestic demand, largely due to the adverse effects of U.S. tariffs.