UK services PMI fell to 52.9 in May, signaling potential 0.3% Q2 GDP growth and influencing interest rate decisions.
UK services firms report slower growth and weaker inflation, as the S&P Global UK Services PMI dropped to 52.9 in May, its lowest in six months. Business activity growth declined from April's 11-month high, and inflation pressures reached a three-year low. These findings suggest UK GDP growth of around 0.3% in Q2, potentially influencing the Bank of England's decision on interest rate cuts later this year.
June 05, 2024
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