In July, the British S&P Global Services PMI index returned to growth and reached the level of 51.8

According to preliminary data, the S&P Global Services Purchasing Managers’ Index (PMI) in the UK, after falling in June, exceeded 50.0 in July, which is the difference between growth and decline. The PMI for services is 51.8.

Economic indicator

S&P Global Services PMI

Services Purchasing Managers’ Index (PMI), published monthly by S&P Globalis the leading indicator measuring economic activity in the UK services sector. Survey responses reflect possible changes in the current month compared to the previous month and can predict changing trends in official data series such as gross domestic product (GDP), employment and inflation. The index ranges from 0 to 100, and a level of 50.0 means no change compared to the previous month. A reading above 50 indicates that the services economy is growing overall, which is a bullish sign for the pound sterling (GBP). Meanwhile, a reading below 50 signals that activity among service providers is generally withering, which is seen as bearish for GBP.