The UK service sector gained further momentum in May on higher spending in response to looser pandemic restrictions, final data from IHS Markit showed on Thursday.
The Chartered Institute of Procurement & Supply services Purchasing Managers' Index rose to 62.9 in May from 61.0 in April and exceeded the flash estimate of 61.8.
The score was above the 50.0 neutral level for the third month in a row and signaled the fastest growth for 24 years.
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Business News
June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.