The UK’s S&P Global Services PMI Final for the latest period recorded a significant decline, registering at 50.8 compared to the previous 54.2. This marks a decrease of 3.4 points, indicating a slowdown in the services sector’s growth momentum.
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The actual figure fell short of the analyst estimate of 51.9, suggesting weaker-than-expected activity in the services industry. This underperformance may exert downward pressure on stocks within the services sector, as investors reassess growth prospects. The impact is likely to be short-term, driven by sentiment, as market participants adjust their expectations based on the latest data.