The UK service sector contracted in May as output levels dropped for the first time in just over a year, final survey results from S&P Global showed Wednesday. The final services Purchasing Managers' Index dropped to 49.3 in May from 52.7 in April. The flash reading was 47.9.
The score registered below the 50.0 no-change level for the first time since April 2025.
"UK service sector companies signaled a reversal of fortunes in May as business activity fell into contraction after showing some resilience earlier this spring," S&P Global Market Intelligence Economics Director Tim Moore said.
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May 22, 2026 14:46 ET Minutes of the latest Fed policy session was the highlight of the week along with survey data on the U.S. housing market. In Europe, survey data signaled the trends in the euro area private sector. Further, consumer price inflation data from the U.K. was in focus. In Asia, various economic indicators from China drew attention to the health of the economy.