UK Services Sector Returns to Growth in July with PMI Rising to 52.1, Indicating Continued Expansion
📈 July, the UK's services sector returned to growth with the S&P Global UK Services PMI rising to 52.1 from 48.8 in June, marking the first growth since April. This reading surpassed the flash estimate of 51.8 and indicates expansion. The services sector, encompassing hospitality, finance, and transportation, contributes approximately 80% of the UK’s economic output, highlighting its crucial role in the economy. This positive change was reported on Wednesday.
Share