UK S&P Global Services PMI Final (Mar) 50.5 vs. Exp. 51.2 (Prev. 53.9)

The UK S&P Global Services PMI final reading of 50.5, falling short of expectations and significantly down from the prior month, signals a marked slowdown in service sector growth.

Newsquawk StaffPublished 7 Apr 2026, 08:50 UTCOn the live feed at 08:30 UTC — 7 more headlines followed before this page went public

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08:36

Iranian securities exchange chief outlines conditions needed to reopen the Iranian capital markets: says outcomes could include a ceasefire with a formal agreement and full reopening, or a ceasefire without agreement and a gradual reopening

08:33

Hungary to agree to buy oil from US at Orban-Vance meeting, Bloomberg reports

08:30

UK S&P Global Services PMI Final (Mar) 50.5 vs. Exp. 51.2 (Prev. 53.9)

08:29

"News sources reported hearing sirens in Bahrain, Saudi Arabia and Kuwait followed by explosions", via IRIB News

08:28

Pakistan in last-minute efforts, along with Turkey and Egypt, to convince Iran to agree to the outline proposed by Pakistan, according to I24's Stein

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"UK service providers experienced a marked slowdown in output growth in March as the war in the Middle East encouraged greater risk aversion among clients and postponed investment decisions. Cutbacks to business and consumer spending meant that the rate of business activity expansion was the weakest seen since April 2025."
"Stagflation risks appear to have increased, with the final Services PMI data signalling slower growth and higher cost pressures than the earlier 'flash' estimates based on data compiled up to 20th March."
"Confidence levels have fallen sharply after hitting a 15-month high in January. Service providers widely commented on fragile domestic economic conditions and concerns about the impact of rising inflation and higher borrowing costs on client demand over the year ahead."

Context

This likely raises stagflation concerns as it indicates weaker business activity amidst rising costs, which could prompt shifts in monetary policy considerations regarding rate stability. The deterioration in confidence highlights vulnerabilities in domestic demand, complicating the economic outlook going forward.

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