UK PMI Services was finalized at 62.9 in May, up from April’s 62.9, fastest growth in 24 years. PMI Composite was finalized at 62.9, up from April’s 60.7, record high since 1998.
Tim Moore, Economics Director at IHS Markit: “UK service providers reported the strongest rise in activity for nearly a quarter-century during May as the roll back of pandemic restrictions unleashed pent up business and consumer spending. The latest survey results set the scene for an eye-popping rate of UK GDP growth in the second quarter of 2021, led by the reopening of customer-facing parts of the economy after winter lockdowns.”
