The UK service sector logged a renewed upturn in May amid rising confidence among clients along with receding concerns about US tariffs, final purchasing managers' survey data from S&P Global showed on Wednesday.
The services Purchasing Managers' Index climbed to 50.9 in May from April's 27-month low of 49.0. A reading above 50 indicates expansion. The score was above the initial estimate of 50.2.
The survey revealed that an increase in business activity generally cited the impact of improved business optimism after the US tariff-related slump seen in April.
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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.