UK Services PMI Falls To 48.7 In June Missing Consensus

The United Kingdom’s S&P Global Services Purchasing Managers’ Index registered 48.7 in June 2026, below the consensus estimate of 50.5. The reading compared with 49.3 in May, marking a 0.6‑point decline and signaling a deeper contraction in the services sector. Falling further below the 50 threshold indicated continued shrinkage in business activity after two months of sub‑50 readings. Softer demand in consumer‑facing and financial services contributed most to the downturn, offsetting modest gains in technology‑related segments. The June figure remained under the 12‑month average of roughly 50.2, underscoring persistent weakness amid high borrowing costs and subdued client confidence. The pound edged lower after the release as markets evaluated its implications for the Bank of England’s monetary stance ahead of upcoming economic data. Updated 6/23/26