UK Services PMI Hits 51.8 in July, Highest in 3 Months, as Activity Rebounds

According to S&P Global, the UK services sector purchasing managers' index (PMI) came in at a preliminary reading of 51.8 in July, marking the highest level in three months, according to data released on July 24. Services activity reversed course from June's 48.8 reading, moving back into expansion territory above the 50.0 threshold.

The UK composite PMI also improved to 52.1 in July, the highest reading within three months, rebounding from June's contraction at 49.3. The eurozone's services PMI preliminary estimate stood at 51.6 in July, the highest in five months compared to June's 49.4, signaling a similar expansion recovery.