A survey released on Tuesday showed the U.K. services sector contracted in June at the fastest pace in nearly three and a half years, signaling a difficult economic start for incoming Prime Minister Andy Burnham.
According to Jin10, the flash U.K. services purchasing managers’ index (PMI) fell to 48.7 in June from 49.3 in May, marking the lowest level since January 2023. The reading was also below all economists’ forecasts in a Reuters poll, which had generally expected the index to rebound to 50.1.
The survey indicated sharp declines in both employment and new business. The new business sub-index dropped to its lowest level since January 2021.
The data was published the day after Prime Minister Starmer announced his resignation, underscoring the economic challenges Burnham is expected to face, assuming no other Labour lawmakers challenge him for the party leadership and the premiership.
U.K. Services PMI Falls to 48.7 in June, Lowest Since January 2023
2026-06-23 16:46:30
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