LONDON, Oct. 5 (Xinhua) -- The purchasing managers' index (PMI) of Britain's services sector fell to 52.1 in September, but posted a sustained rebound in business conditions during the third quarter of 2026, data from S&P Global showed Monday.
The seasonally adjusted S&P Global UK Services PMI Business Activity Index went down from the four-month high of 52.5 in August, and stayed flat from July's 52.1, according to the company.
Moderate output growth was maintained across the UK services economy in September, albeit with a loss of momentum in comparison to August, said Tim Moore, economics director at S&P Global Market Intelligence, noting "subdued demand conditions and rising inflationary pressures contributed to weaker business activity expectations for the year ahead."
New orders increased at the slowest pace since the current period of growth began in July. And new business from abroad fell for the 7th successive month due to strong competition and lackluster global economic conditions, S&P Global said.
"Geopolitical tensions, squeezed consumer budgets and higher borrowing costs were cited as sales headwinds," Moore commented, taking resilient demand for technology services as the remaining main bright spot.
The data also marked two years of continuous job cuts across the sector, however, it showed that the rate of decline in workforce numbers was the slowest since October 2025.
Efforts to protect operating margins from rising fuel bills and elevated pay inflation contributed the fastest increase in prices charged by services firms since May, the company added. ■