UK service sector growth slowed more-than-expected in January, moving closer to stagnation, as new orders and staffing levels declined amid rising cost pressures and the heightened political uncertainty linked to Brexit.
The CIPS Services Purchasing Managers' Index, or PMI, dropped to 50.1 from 51.2 in December, preliminary data from IHS Markit showed on Tuesday. Economists had forecast a score of 51.
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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.