The S&P Global UK Services PMI was revised slightly higher to 48.8 in June 2026 from a preliminary estimate of 48.7, but remained below May's reading of 49.3. The data showed the services sector contracted for a second consecutive month, with the pace of decline accelerating to its steepest since January 2023. Total new work received by service sector companies fell for the fourth consecutive month and the rate of contraction accelerated to its fastest since November 2022. Survey respondents attributed weaker demand to global inflationary pressures linked to the Middle East conflict and heightened domestic political uncertainty. Export orders fell further in June, with weak demand from European clients continuing to outweigh robust sales to the United States.