The UK service sector continued to expand at a solid pace in May amid robust rises in output and new business despite mounting inflationary pressures fueled by higher wage costs, survey data from S&P Global revealed Monday.
The final Chartered Institute of Procurement & Supply services Purchasing Managers' Index dropped to 55.2 in May from 55.9 in April. A reading above 50 indicates expansion in the sector.
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April 24, 2026 15:15 ET Economics news flow was relatively light this week even as the conflict in the Middle East continued, raising concerns for policymakers. In the U.S., spending data, initial jobless claims and pending home sales were the highlights. Business confidence in the biggest euro area economy was in focus in Europe. Inflation data from Japan gained attention in Asia.