Mumbai, June 4 -- May data indicated a renewed upturn in UK service sector output, helped by improving confidence among clients and fewer reports of tariff concerns.
However, service providers noted that elevated business uncertainty and pressure on corporate budgets from rising payroll costs continued to dampen demand.
Total new work decreased for the fourth time in the past five months, despite a near-stabilization in export sales.
The headline seasonally adjusted final S&P Global UK Services PMI Business Activity Index registered 50.9 in May, above the earlier 'flash' reading (50.2) and up from April's 27-month low of 49.0.
Output growth was nonetheless only marginal and much weaker than the long-run survey average. Service providers...