UK: Service sector growth slows to its lowest pace in nearly a year
UK Services Sector Experiences Marked Slowdown in March
According to March PMI® figures, the UK’s service sector saw a significant deceleration in business activity expansion. This loss of momentum was largely attributed to reduced spending by both businesses and consumers, stemming from uncertainty surrounding the ongoing conflict in the Middle East.
Additionally, profit margins came under strain as input costs rose at the fastest pace in nearly a year, mainly due to increased expenses for fuel, logistics, and raw materials.
The main S&P Global UK Services PMI Business Activity Index, adjusted for seasonal variations, registered 50.5 in March—dropping from 53.9 in February and marking the lowest point since April 2025.
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