UK Preliminary Services PMI returns to expansion with 50.5 in November

The seasonally adjusted S&P Global/CIPS UK Manufacturing Purchasing Managers’ Index (PMI) for November came in at 46.7, surpassing expectations of 45.0 and marking an improvement from October’s final print of 44.8.

In addition, the Preliminary UK Services Business Activity Index showed significant progress, reaching a four-month high of 50.5 in November. This stands in contrast to the final October print of 49.5 and the market consensus of 49.5.

Tim Moore, Economics Director at S&P Global Market Intelligence, commented on the flash PMI data, stating, “The UK economy found its feet again in November as the service sector arrested a three-month sequence of decline, and manufacturers began to report less severe cutbacks to production schedules.”