UK services activity rebounded in April, with PMI Services finalized at 52.7, up from March’s 11-month low of 50.5. PMI Composite also improved from 50.3 to 52.6, signaling a modest recovery in private sector growth after the slowdown seen in the previous month. The pickup suggests domestic activity has regained some momentum despite growing geopolitical and inflation-related headwinds.
However, the underlying picture remains mixed. According to S&P Global, new business growth stayed subdued as weaker export demand and deteriorating confidence weighed on order books. Survey respondents frequently cited the Middle East conflict and related supply chain disruptions as major concerns, with firms reporting softer business and consumer sentiment compared with earlier in the year.
At the same time, inflation pressures intensified sharply. Higher fuel and transportation costs pushed average cost burdens to their fastest pace since November 2022, while many companies introduced fuel surcharges for customers. As a result, prices charged inflation accelerated to its highest level in more than three years.
| Indicator | Previous | Final | Notes |
|---|---|---|---|
| PMI Services | 50.5 | 52.7 | Rebounded from 11-month low |
| PMI Composite | 50.3 | 52.6 | Broader private sector expansion |
