Service industries: Economic indicators

Economic indicators are quick-read summaries of the latest data focusing on different aspects of the UK economy. The full suite of indicators can be found on the main Economic Indicators page.

The service industries include the retail sector, the financial sector, the public sector, business administration, leisure and cultural activities.

The service industries accounted for 81% of total UK economic output (Gross Value Added) and 83% of employment in April–June 2024.

Services Output

There was an increase of 0.1% in the Index of Services between October and November 2024.

Services output was unchanged (growth of 0.0%) in September to November 2024 compared with June to August 2024.

In September to November 2024, compared with September to November 2023, services output increased by 1.5%.

Purchasing Managers’ Index (PMI)

In the S&P Global/CIPS PMI, a value of 50 means that there is no change in activity compared to the previous month. Values above 50 indicate an expansion, and values below 50 a contraction.

The UK services PMI (PDF) in December was 51.1, up from 50.8 in November. Business activity grew overall, but not strongly – new work increased only slightly, and both employment and export sales fell. Business confidence was also down, with some survey respondents linking falling client confidence to the effect of the Autumn Budget.

Next updates

This page is updated when new data is published. The next source updates will be:

• ONS, Index of Services, 13 February 2025

• S&P Global/CIPS, UK Services PMI, 24 January 2025