June UK services PMI fell to 48.7, below expectations, signaling a sharper decline in private sector output.
The UK’s flash services PMI dropped to 48.7 in June, missing the 50.1 forecast and marking a contraction in activity. The composite PMI also fell to 49.4, below the expected 50.6, as private sector output continued to weaken.
The prior services PMI stood at 49.3, while manufacturing PMI reached 53.1, slightly below the 53.5 estimate. The decline in services activity outpaced expectations, raising concerns about economic momentum.
Markets may interpret the data as a sign of slowing growth, potentially influencing Bank of England policy expectations.