UK service providers reported another reduction in their business activity at the start of the year largely due to subdued spending by both businesses and consumers, final results of the Purchasing Managers' survey from S&P Global revealed Friday.
The Chartered Institute of Procurement & Supply services Purchasing Managers' Index fell to 48.7 from 49.9 in the previous month.
The score has remained below the neutral 50.0 threshold for the fourth straight month, signaling contraction. However, the reading was above the flash estimate of 48.0.
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.