Key findings:
New orders rise for first time in three months Staffing levels reduced again Slowest pace of prices charged inflation since February 2021Comment:
Tim Moore, Economics Director at S&P Global Market Intelligence, said:
"June data highlighted a modest rebound in UK service sector growth, fuelled by a turnaround in domestic business and consumer spending after a soft patch during the spring. Business activity expansion was slightly stronger than the earlier 'flash' estimate for June and the fastest seen since August 2024.
"While total new work picked up in June, shrinking export sales were a constraint on service sector growth. Survey respondents cited headwinds from US tariffs and geopolitical tensions, which resulted in subdued demand conditions across global markets.
"Meanwhile, concerns about elevated payroll costs meant that service providers were reluctant to turn on the hiring taps. Employment numbers decreased for the ninth month running and at a faster pace than in May, with job shedding again often attributed to redundancies as well as the non-replacement of voluntary leavers.
"The latest survey pointed to a considerable slowdown in overall cost inflation across the service economy, which allowed for the slowest rise in output charges since February 2021. "A combination of easing price pressures and lower employment leaves the door open for the Bank of England to resume its run of interest rate cuts at the next policy meeting in August."
This article was written by Giuseppe Dellamotta at www.forexlive.com.Hence then, the article about uk june final services pmi 52 8 vs 51 3 prelim was published today ( ) and is available on forex live ( Middle East ) The editorial team at PressBee has edited and verified it, and it may have been modified, fully republished, or quoted. You can read and follow the updates of this news or article from its original source.
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