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🇬🇧 Manufacturing flatters the UK PMI, but services are sinking at the fastest pace in three years
The day in view

🇬🇧 Manufacturing flatters the UK PMI, but services are sinking at the fastest pace in three years

Macro Soup Newsroom Macro Soup Newsroom 3 min read

UK June flash composite PMI fell to 49.4, missing the 50.0 consensus, as services hit 48.7, the weakest since January 2023. The BoE held at 3.75% in a 7-2 vote; Greene and Pill both pushed for a hike into a contracting economy.

Line and bar chart of UK Composite PMI Output Index (blue) and GDP (green) from Jan 2023 to Jul 2026 with 2024 election marked and red box on right.
UK flash composite PMI fell to 49.4 in June from 49.7 in May, the second consecutive month of private sector contraction as services activity weakened, per economist Julian Jessop. Source

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