Prior 52.8Final Composite PMI 51.5 vs 51.0 prelimPrior 52.0<\/p>\n
Key findings:<\/p>\n
Modest increase in service sector business activity
\nRenewed fall in total new work
\nSharpest decline in employment since February<\/p>\n
Comment:<\/p>\n
Tim Moore, Economics Director at S&P Global Market
\nIntelligence, said:\n<\/p>\n
“UK service providers recorded a third consecutive
\nmonthly rise in business activity, but they were unable
\nto maintain the growth rate achieved in June.\n<\/p>\n
“Moreover, new business intakes swung back into
\ncontraction during July, with the downturn in order
\nbooks the fastest for just over two-and-a-half years.
\nRisk aversion and low confidence among clients were
\nthe main reasons provided for sluggish sales pipelines,
\nalongside an unfavourable global economic backdrop.\n<\/p>\n
“Hiring trends were especially subdued, with total
\nworkforce numbers decreasing to the greatest extent
\nsince February. Worries about rising payroll costs were
\ncited as the main factor holding back recruitment.\n<\/p>\n
“Suppliers again sought to pass on rising employment
\ncosts, although the latest increase in input prices
\nacross the service economy was the slowest since
\nDecember 2024.\n<\/p>\n
“Despite headwinds from strong cost pressures and
\nlacklustre domestic economic conditions, service
\nproviders remain upbeat overall regarding the year
\nahead business outlook. Optimism improved since
\nJune, helped by receding concerns about US tariffs and
\nhopes of a boost to business and consumer spending
\nfrom interest rate cuts in the second half of 2025.”<\/p>\n
UK Composite PMI<\/p>\n","protected":false},"excerpt":{"rendered":"Prior 52.8Final Composite PMI 51.5 vs 51.0 prelimPrior 52.0 Key findings: Modest increase in service sector business activity…\n","protected":false},"author":2,"featured_media":45909,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11],"tags":[84,1294,56,54,55],"class_list":["post-45908","post","type-post","status-publish","format-standard","has-post-thumbnail","category-economy","tag-business","tag-economy","tag-uk","tag-united-kingdom","tag-unitedkingdom"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/posts\/45908","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/comments?post=45908"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/posts\/45908\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/media\/45909"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/media?parent=45908"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/categories?post=45908"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/tags?post=45908"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}