The UK service sector continued to expand in June but the upturn moderated as rising interest rates and economic uncertainty weighed on consumer demand, final survey results from S&P Global showed on Wednesday.
The final Chartered Institute of Procurement & Supply services Purchasing Managers' Index dropped to 53.7 in June, as estimated, from 55.2 in May. The score signaled a slowdown in service sector output growth to the weakest since March. New orders increased at the slowest pace since the current period of growth began in February. Service providers delayed their purchasing decisions due to the uncertainty surrounding the economic outlook and the impact of higher borrowing costs.
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June 19, 2026 16:46 ET Major central banks continued to dominate the economic news flow this week too, led by the Federal Reserve, as they announced their latest policy decisions. The Federal Reserve policy session was in focus as it was the first to be led by the new chief Kevin Warsh. In Europe, central banks of the U.K. and Switzerland announced their rate decisions. In Asia, the Bank of Japan drew attention for its policy moves, while data out of China threw some light on the state of the economy.