Mumbai, June 3 -- The UK service sector saw a setback in May as output levels declined for the first time since April 2025, according to the latest S&P Global PMI survey. The Services PMI Business Activity Index dropped from 52.7 in April to 49.3, slipping below the 50.0 threshold that signals contraction.
The fall was linked to weaker demand, with new work declining for the third month in a row. Firms cited subdued consumer spending, particularly in travel, tourism and leisure, alongside economic and political uncertainty. Export sales also softened due to global conditions and competition. Backlogs of work fell at the fastest pace since November 2025, while employment dropped at the strongest rate since February, as companies adopted cau...