WS Investor
03 Jun 2026, 12:28
The UK's final May PMI data were notably weak and point to a sudden loss of economic momentum.
The S&P Global Services PMI fell to 49.3, beating the 47.9 forecast but plunging from 52.7 in April. Since services account for roughly 80% of the UK economy, the move below 50 is particularly significant and indicates that business activity contracted during May.
The Composite PMI, which combines manufacturing and services, dropped to 49.7 from 52.6 in April. Although it came in above the 48.5 consensus estimate, it still fell below the 50 expansion threshold, signaling that overall private-sector activity contracted for the first time in several months.
The S&P Global Services PMI fell to 49.3, beating the 47.9 forecast but plunging from 52.7 in April. Since services account for roughly 80% of the UK economy, the move below 50 is particularly significant and indicates that business activity contracted during May.
The Composite PMI, which combines manufacturing and services, dropped to 49.7 from 52.6 in April. Although it came in above the 48.5 consensus estimate, it still fell below the 50 expansion threshold, signaling that overall private-sector activity contracted for the first time in several months.