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UK Services Sector Sees Growth in January
(MENAFN) Britain's services sector posted expansion in January, with the seasonally adjusted purchasing managers' index (PMI) signaling heightened business activity at the start of 2026, a report from S&P Global released Wednesday confirmed.
The headline S&P Global UK Services PMI Business Activity Index registered 54.0 in January, climbing from 51.4 in December 2025, the data showed.
Services companies attributed the higher level of business activity to greater confidence among clients, the start of new projects and a post-Budget improvement in investment sentiment.
Tim Moore, economics director at S&P Global Market Intelligence, said that output growth was the fastest in five months, supported by an uplift in investment sentiment and stronger new order intakes.
However, he cautioned that services providers still reported that consumer demand was constrained by squeezed disposable incomes, while risk aversion in response to geopolitical tensions continued to hold back business spending.
"Services sector companies appear cautiously optimistic about their growth prospects for the next 12 months," he said, underlining renewed gloomy signals for the British labour market outlook as staff hiring decreased at a steeper pace in January amid firms' efforts to offset rising payroll costs.
The headline S&P Global UK Services PMI Business Activity Index registered 54.0 in January, climbing from 51.4 in December 2025, the data showed.
Services companies attributed the higher level of business activity to greater confidence among clients, the start of new projects and a post-Budget improvement in investment sentiment.
Tim Moore, economics director at S&P Global Market Intelligence, said that output growth was the fastest in five months, supported by an uplift in investment sentiment and stronger new order intakes.
However, he cautioned that services providers still reported that consumer demand was constrained by squeezed disposable incomes, while risk aversion in response to geopolitical tensions continued to hold back business spending.
"Services sector companies appear cautiously optimistic about their growth prospects for the next 12 months," he said, underlining renewed gloomy signals for the British labour market outlook as staff hiring decreased at a steeper pace in January amid firms' efforts to offset rising payroll costs.
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