06-05-2025
Britain's services sector contracts in April, ending 17-month growth streak
LONDON, May 6 (Xinhua) -- The United Kingdom's (UK) services sector contracted in April, marking the end of a 17-month expansion streak amid mounting global economic uncertainty.
The S&P Global UK Services Purchasing Managers Business Activity Index fell to 49 in April, down from 52.5 in March, according to data released Tuesday by S&P Global.
The decline follows modest growth in the first quarter of 2025. While many firms continued to cite weak domestic demand, the survey highlighted a notable drop in new work from overseas markets.
Export activity was particularly subdued, with new business from abroad falling at the steepest rate since February 2021.
"Survey respondents often commented on the impact of global financial market turbulence in the wake of U.S. tariff announcements," said Tim Moore, economics director at S&P Global Market Intelligence.
Business expectations for the year ahead deteriorated sharply, as service providers braced for a prolonged period of global economic volatility and increased recession risks, Moore added.
The data also showed that the S&P Global UK PMI Composite Output Index fell to 48.5 in April from 51.5 in March, slipping below the neutral 50 threshold for the first time in 18 months.
