The UK service sector expanded at the fastest pace in a year, driven by a sharp upturn in new orders, although strong inflationary pressures continued to persist, survey data from S&P Global revealed Thursday.
The final Chartered Institute of Procurement & Supply services Purchasing Managers' Index rose to 55.9 in April from 52.9 in March. The flash reading was 54.9.
New work increased in April at the fastest pace in 13 months, supported by an upturn in domestic demand and export sales, the survey revealed.
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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.