S&P Global/CIPS Services PMI

The PMI service released by both the Chartered Institute of Purchasing & Supply and the Markit Economics is an indicator of the economic situation in the UK services sector. It captures an overview of the condition of sales and employment. It is worth noting that the UK service sector does not influence, either positively or negatively, the GDP as much as the Manufacturing PMI does. Traders want the highest possible reading as that will be taken as positive for the GBP. Any reading above 50 signals expansion, while a reading under 50 shows contraction.

Most recent - Thursday 21 March 2024 09:30

Previous
53.8
Forecast
53.8
Actual
53.4

Lower numbers than forecast tend to be bullish for xxx/GBP pairs and bearish for GBP/xxx pairs.

Next event - Thursday 4 April 2024 08:30

Previous
53.4
Forecast
-
Actual
-

The typical/expected market impact of this event is low.

There is no forecast value for S&P Global/CIPS Services PMI yet - check back for updates.

Trading range

Forecast history

The most recent announced value for S&P Global/CIPS Services PMI was 53.4 against a forecast of 53.8.

Past events

Date
Forecast
Actual
Thursday 21 March 2024 09:30
53.8
53.4
Tuesday 5 March 2024 09:30
54.3
53.8
Thursday 22 February 2024 09:30
54.1
54.3
Monday 5 February 2024 09:30
53.8
54.3
Wednesday 24 January 2024 09:30
53.2
53.8
Thursday 4 January 2024 09:30
52.7
53.4
Friday 15 December 2023 09:30
51
52.7
Tuesday 5 December 2023 09:30
50.5
50.9
Thursday 23 November 2023 09:30
49.5
50.5
Friday 3 November 2023 09:30
49.2
49.5
Tuesday 24 October 2023 08:30
49.5
49.2
Wednesday 4 October 2023 08:30
47.2
49.3
Friday 22 September 2023 08:30
49.2
47.2
Tuesday 5 September 2023 08:30
48.7
49.5
Wednesday 23 August 2023 08:30
50.8
48.7
Thursday 3 August 2023 08:30
51.5
51.5
Monday 24 July 2023 08:30
53
51.5
Wednesday 5 July 2023 08:30
53.7
53.7
Friday 23 June 2023 08:30
54.8
53.7
Monday 5 June 2023 08:30
55.1
55.2
Tuesday 23 May 2023 08:30
55.5
55.1
Thursday 4 May 2023 08:30
54.9
55.9
Friday 21 April 2023 08:30
52.9
54.9
Wednesday 5 April 2023 08:30
52.8
52.9
Friday 24 March 2023 09:30
53
52.8
Friday 3 March 2023 09:30
53.3
53.5
Tuesday 21 February 2023 09:30
48.3
53.3
Friday 3 February 2023 09:30
48
48.7
Tuesday 24 January 2023 09:30
49.9
48
Thursday 5 January 2023 09:30
50
49.9
Friday 16 December 2022 09:30
48.5
50
Monday 5 December 2022 09:30
48.8
48.8
Wednesday 23 November 2022 09:30
48
48.8
Thursday 3 November 2022 09:30
47.5
48.8
Monday 24 October 2022 08:30
49
47.5
Wednesday 5 October 2022 08:30
49.2
50
Friday 23 September 2022 08:30
50
49.2
Monday 5 September 2022 08:30
52.5
50.9
Tuesday 23 August 2022 08:30
52
52.5
Wednesday 3 August 2022 08:30
53.3
52.6
Friday 22 July 2022 08:30
53
53.3
Tuesday 5 July 2022 08:30
53.4
54.3
Thursday 23 June 2022 08:30
53
53.4
Tuesday 7 June 2022 08:30
51.8
53.4
Tuesday 24 May 2022 08:30
57.3
51.8
Thursday 5 May 2022 08:30
58.3
58.9
Friday 22 April 2022 08:30
60
58.3
Tuesday 5 April 2022 08:30
61
62.6
Thursday 24 March 2022 09:30
58
61
Thursday 3 March 2022 09:30
60.8
60.5
Monday 21 February 2022 09:30
55.5
60.8
Thursday 3 February 2022 09:30
53.3
54.1
Monday 24 January 2022 09:30
55
53.3
Thursday 6 January 2022 09:30
53.2
53.6
Thursday 16 December 2021 09:30
57
53.2
Friday 3 December 2021 09:30
58.6
58.5
Tuesday 23 November 2021 09:30
58.5
58.6
Wednesday 3 November 2021 09:30
58
59.1
Friday 22 October 2021 08:30
54.5
58
Tuesday 5 October 2021 08:30
54.6
55.4
Thursday 23 September 2021 08:30
55
54.6
Friday 3 September 2021 08:30
55.5
55
Monday 23 August 2021 08:30
59
55.5
Wednesday 4 August 2021 08:30
57.8
59.6
Friday 23 July 2021 08:30
62
57.8
Monday 5 July 2021 08:30
61.7
62.4
Wednesday 23 June 2021 08:30
62.8
61.7
Thursday 3 June 2021 08:30
61.8
62.9
Friday 21 May 2021 08:30
62
61.8
Thursday 6 May 2021 08:30
60.1
61
Friday 23 April 2021 08:30
59
60.1
Wednesday 7 April 2021 08:30
56.8
56.3

Economic context

Recent economic data has been moderately bearish for GBP. Other recent announcements which may affect the market's interpretation of the next S&P Global/CIPS Services PMI result:

PreviousLatest
Gross Domestic Product (QoQ)(no change)-0.3%-0.3%
Gross Domestic Product (YoY)(no change)-0.2%-0.2%
Retail Sales (MoM)Bearish change3.6%0%
Retail Sales (YoY)Bearish change0.5%-0.4%
Retail Sales ex-Fuel (MoM)Bearish change3.4%0.2%
Retail Sales ex-Fuel (YoY)Bearish change0.5%-0.5%
GfK Consumer Confidence(no change)-21-21
BoE MPC Vote Rate Cut(no change)11
BoE MPC Vote Rate HikeBearish change20
S&P Global/CIPS Composite PMIBearish change5352.9
S&P Global/CIPS Manufacturing PMIBullish change47.549.9
Consumer Price Index (MoM)Bullish change-0.6%0.6%
Consumer Price Index (YoY)Bearish change4%3.4%
Core Consumer Price Index (YoY)Bearish change5.1%4.5%
PPI Core Output (MoM) n.s.aBearish change0.3%0.2%
PPI Core Output (YoY) n.s.a Bullish change-0.3%0.3%
Producer Price Index - Output (MoM) n.s.aBullish change0%0.3%
Producer Price Index - Output (YoY) n.s.aBullish change-0.3%0.4%
Retail Price Index (MoM)Bullish change-0.3%0.8%
Retail Price Index (YoY)Bearish change4.9%4.5%
Consumer Inflation ExpectationsBearish change3.3%3%

About S&P Global/CIPS Services PMI

Country:United Kingdom
Currency:GBP
Source:IHS Markit
Category:Economic Activity
Frequency:Monthly

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