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.

Hide description Full calendar

Most recent - Friday 22 September 2023 08:30

49.5

Forecast

49.2

Actual

47.2

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

Next event - Wednesday 4 October 2023 08:30

47.2

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 47.2 against a forecast of 49.2.

Past events

Date

Forecast

Actual

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

Monday 24 July 2023 08:30

51.5

Wednesday 5 July 2023 08:30

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

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

48.7

Tuesday 24 January 2023 09:30

49.9

Thursday 5 January 2023 09:30

49.9

Friday 16 December 2022 09:30

48.5

Monday 5 December 2022 09:30

48.8

Wednesday 23 November 2022 09:30

48.8

Thursday 3 November 2022 09:30

47.5

48.8

Monday 24 October 2022 08:30

47.5

Wednesday 5 October 2022 08:30

49.2

Friday 23 September 2022 08:30

49.2

Monday 5 September 2022 08:30

52.5

50.9

Tuesday 23 August 2022 08:30

52.5

Wednesday 3 August 2022 08:30

53.3

52.6

Friday 22 July 2022 08:30

53.3

Tuesday 5 July 2022 08:30

53.4

54.3

Thursday 23 June 2022 08:30

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

58.3

Tuesday 5 April 2022 08:30

62.6

Thursday 24 March 2022 09:30

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

53.3

Thursday 6 January 2022 09:30

53.2

53.6

Thursday 16 December 2021 09:30

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

59.1

Friday 22 October 2021 08:30

54.5

Tuesday 5 October 2021 08:30

54.6

55.4

Thursday 23 September 2021 08:30

54.6

Friday 3 September 2021 08:30

55.5

Monday 23 August 2021 08:30

55.5

Wednesday 4 August 2021 08:30

57.8

59.6

Friday 23 July 2021 08:30

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

61.8

Thursday 6 May 2021 08:30

60.1

Friday 23 April 2021 08:30

60.1

Wednesday 7 April 2021 08:30

56.8

56.3

Wednesday 24 March 2021 09:30

56.8

Wednesday 3 March 2021 09:30

49.7

49.5

Friday 19 February 2021 09:30

49.7

Wednesday 3 February 2021 09:30

38.8

39.5

Friday 22 January 2021 09:30

38.8

Wednesday 6 January 2021 09:30

49.9

49.4

Wednesday 16 December 2020 09:30

50.5

49.9

Thursday 3 December 2020 09:30

45.8

47.6

Monday 23 November 2020 09:30

42.5

45.8

Wednesday 4 November 2020 09:30

52.3

51.4

Friday 23 October 2020 08:30

52.3

Monday 5 October 2020 08:30

56.1

Economic context

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

		Previous	Latest
S&P Global/CIPS Composite PMI	Bearish change	48.6	46.8
S&P Global/CIPS Manufacturing PMI	Bullish change	43	44.2
Retail Sales (MoM)	Bullish change	-1.1%	0.4%
Retail Sales (YoY)	Bullish change	-3.1%	-1.4%
Retail Sales ex-Fuel (MoM)	Bullish change	-1.4%	0.6%
Retail Sales ex-Fuel (YoY)	Bullish change	-3.3%	-1.4%
GfK Consumer Confidence	Bullish change	-25	-21
BoE MPC Vote Rate Cut	(no change)	0	0
BoE MPC Vote Rate Hike	Bearish change	8	4
Consumer Price Index (MoM)	Bullish change	-0.4%	0.3%
Consumer Price Index (YoY)	Bearish change	6.8%	6.7%
Core Consumer Price Index (YoY)	Bearish change	6.9%	6.2%
PPI Core Output (MoM) n.s.a	Bearish change	0.1%	-0.1%
PPI Core Output (YoY) n.s.a	Bearish change	2.2%	1.6%
Producer Price Index - Output (MoM) n.s.a	(no change)	0.2%	0.2%
Producer Price Index - Output (YoY) n.s.a	Bullish change	-0.7%	-0.4%
Retail Price Index (MoM)	Bullish change	-0.6%	0.6%
Retail Price Index (YoY)	Bullish change	9%	9.1%
Consumer Inflation Expectations	Bullish change	3.5%	3.6%
Gross Domestic Product (MoM)	Bearish change	0.5%	-0.5%
Industrial Production (MoM)	Bearish change	1.8%	-0.7%
Manufacturing Production (MoM)	Bearish change	2.4%	-0.8%
Manufacturing Production (YoY)	Bearish change	3.1%	3%
Average Earnings Excluding Bonus (3Mo/Yr)	(no change)	7.8%	7.8%
Average Earnings Including Bonus (3Mo/Yr)	Bullish change	8.4%	8.5%
Claimant Count Change	Bullish change	7.4K	0.9K
Claimant Count Rate	(no change)	4%	4%
Employment Change	Bearish change	-66K	-207K
ILO Unemployment Rate (3M)	Bearish change	4.2%	4.3%

About S&P Global/CIPS Services PMI

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

Related events

	Australia		Gross Domestic Product (QoQ)
	Canada		Gross Domestic Product Annualized
	Switzerland		Gross Domestic Product s.a. (QoQ)
	China		Non-Manufacturing PMI
	China		Gross Domestic Product (YoY)
	China		Gross Domestic Product (QoQ)
	China		NBS Manufacturing PMI
	Germany		Gross Domestic Product (QoQ)
	Eurozone		Gross Domestic Product s.a. (YoY)
	Eurozone		Gross Domestic Product s.a. (QoQ)
	Eurozone		S&P Global Composite PMI
	Japan		Gross Domestic Product (QoQ)
	Japan		Tankan Large Manufacturing Index
	New Zealand		Gross Domestic Product (YoY)
	New Zealand		Gross Domestic Product (QoQ)
	United Kingdom		Gross Domestic Product (QoQ)
	United States		ISM Manufacturing PMI
	United States		Gross Domestic Product Annualized
	United States		Nondefense Capital Goods Orders ex Aircraft
	United States		ISM Services PMI
	United States		Durable Goods Orders
	Australia		National Australia Bank's Business Confidence (QoQ)
	Australia		S&P Global Services PMI
	Australia		AiG Performance of Mfg Index
	Australia		AiG Industry Index
	Australia		Gross Domestic Product (YoY)
	Canada		Bank of Canada Business Outlook Survey
	Canada		Gross Domestic Product (MoM)
	Canada		Ivey Purchasing Managers Index
	Canada		Ivey Purchasing Managers Index s.a
	Canada		Gross Domestic Product (QoQ)
	Canada		S&P Global Manufacturing PMI
	Switzerland		KOF Leading Indicator
	Switzerland		Industrial Production (YoY)
	Switzerland		Gross Domestic Product (YoY)
	Switzerland		ZEW Survey – Expectations
	China		Industrial Production (YoY)
	China		Caixin Services PMI
	China		Caixin Manufacturing PMI
	Germany		ZEW Survey – Economic Sentiment
	Germany		IFO – Current Assessment
	Germany		S&P Global/BME Manufacturing PMI
	Germany		IFO – Expectations
	Germany		S&P Global/BME Composite PMI
	Germany		ZEW Survey – Current Situation
	Germany		IFO – Business Climate
	Germany		Gross Domestic Product w.d.a (YoY)
	Germany		Gross Domestic Product (YoY)
	Germany		Factory Orders s.a. (MoM)
	Eurozone		ZEW Survey – Economic Sentiment
	Eurozone		S&P Global Manufacturing PMI
	Eurozone		S&P Global Services PMI
	Eurozone		Industrial Production s.a. (MoM)
	Eurozone		Business Climate
	Spain		S&P Global Services PMI
	Spain		S&P Global Manufacturing PMI
	France		Gross Domestic Product (QoQ)
	Italy		Gross Domestic Product (YoY)
	Italy		S&P Global Manufacturing PMI
	Italy		Gross Domestic Product (QoQ)
	Italy		S&P Global Services PMI
	Japan		Tankan Large All Industry Capex
	Japan		Tankan Large Manufacturing Outlook
	Japan		Industrial Production (YoY)
	Japan		Gross Domestic Product Annualized
	Japan		Industrial Production (MoM)
	New Zealand		Business NZ PMI
	New Zealand		NZIER Business Confidence (QoQ)
	Poland		Purchasing Manager Index
	United Kingdom		Manufacturing Production (MoM)
	United Kingdom		S&P Global/CIPS Composite PMI
	United Kingdom		Manufacturing Production (YoY)
	United Kingdom		Gross Domestic Product (MoM)
	United Kingdom		Industrial Production (MoM)
	United Kingdom		Gross Domestic Product (YoY)
	United Kingdom		NIESR GDP Estimate (3M)
	United Kingdom		S&P Global/CIPS Manufacturing PMI
	United States		Durable Goods Orders ex Defense
	United States		S&P Global Manufacturing PMI
	United States		S&P Global Services PMI
	United States		Chicago Fed National Activity Index
	United States		Factory Orders (MoM)
	United States		ISM Services New Orders Index
	United States		ISM Manufacturing New Orders Index
	United States		Philadelphia Fed Manufacturing Survey
	United States		S&P Global Composite PMI
	United States		Chicago Purchasing Managers' Index
	United States		Durable Goods Orders ex Transportation
	United States		Gross Domestic Product Price Index

Calendar - S&P Global/CIPS Services PMI - United Kingdom

S&P Global/CIPS Services PMI

Most recent - Friday 22 September 2023 08:30

Next event - Wednesday 4 October 2023 08:30

Trading range

Trading range after each S&P Global/CIPS Services PMI event

Forecast history

Past events

Economic context

About S&P Global/CIPS Services PMI

Related events