The UK service sector shrank for the third straight month in October as the cost of living pressures, high interest rates and weak consumer sentiment curbed demand, survey data published by S&P Global and the Chartered Institute of Procurement & Supply showed Friday.
At 49.5, the services Purchasing Managers' Index rose from 49.3 in September. The flash reading was 49.2. Despite an increase, the score below 50.0 signaled contraction in the sector.
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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.