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UK business activity decreases for the first time since April 2025
Latest survey data indicated a setback for the UK service sector as output levels fell for the first time in just over a year. This mostly reflected a sustained reduction in new work. Weaker demand was attributed to elevated risk aversion among clients and pressure on budgets from sharply rising inflation. The headline seasonally adjusted S&P Global UK Services PMI Business Activity Index fell from 52.7 in April to 49.3 in May, to register below the 50.0 no-change value for the first time since April 2025. Although much weaker than the long-run survey average (54.2), the latest reading signalled only a marginal ... (full story)