X

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 - Tuesday 23 May 2023 08:30

Previous
55.9
Forecast
55.5
Actual
55.1

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

Next event - Monday 5 June 2023 08:30

Previous
55.1
Forecast
55.1
Actual
-

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

The consensus forecast for S&P Global/CIPS Services PMI is 55.1. A higher value than forecast tends to be bullish for GBP/xxx pairs and bearish for xxx/GBP pairs.

Trading range

Forecast history

The most recent announced value for S&P Global/CIPS Services PMI was 55.1 against a forecast of 55.5.

Past events

Date
Forecast
Actual
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
Wednesday 24 March 2021 09:30
51
56.8
Wednesday 3 March 2021 09:30
49.7
49.5
Friday 19 February 2021 09:30
41
49.7
Wednesday 3 February 2021 09:30
38.8
39.5
Friday 22 January 2021 09:30
45
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
54
52.3
Monday 5 October 2020 08:30
55
56.1
Wednesday 23 September 2020 08:30
56
55.1
Thursday 3 September 2020 08:30
60.1
58.8
Friday 21 August 2020 08:30
57
60.1
Wednesday 5 August 2020 08:30
56.6
56.5
Friday 24 July 2020 08:30
51.1
56.6
Friday 3 July 2020 08:30
47
47.1
Tuesday 23 June 2020 08:30
40
47

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:

PreviousLatest
S&P Global/CIPS Manufacturing PMIBullish change46.947.1
Retail Sales (MoM)Bullish change-1.2%0.5%
Retail Sales (YoY)Bullish change-3.9%-3%
Retail Sales ex-Fuel (MoM)Bullish change-1.4%0.8%
Retail Sales ex-Fuel (YoY)Bullish change-4%-2.6%
Consumer Price Index (MoM)Bullish change0.8%1.2%
Consumer Price Index (YoY)Bearish change10.1%8.7%
Core Consumer Price Index (YoY)Bullish change6.2%6.8%
PPI Core Output (MoM) n.s.aBearish change0.3%0%
PPI Core Output (YoY) n.s.a Bearish change8.3%6%
Retail Price Index (MoM)Bullish change0.7%1.5%
Retail Price Index (YoY)Bearish change13.5%11.4%
S&P Global/CIPS Composite PMIBearish change54.953.9
S&P Global/CIPS Manufacturing PMIBearish change47.846.9

About S&P Global/CIPS Services PMI

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

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