标准普尔全球英国服务业采购经理人指数从初步的50.2略微上调至2025年5月的50.9，高于4月份的49。最新数据表明，在对美国关税的担忧消退的情况下，4月份经济收缩后，经济复苏乏力。尽管出口销售几乎保持不变，但总体需求状况仍然具有挑战性，因为新工作总量在五个月内第四次下降。就业人数已连续八个月下降，但最近一次下降是自2024年11月以来最慢的，主要反映了工资成本上升对招聘计划的负面影响。就价格而言，自4月以来，投入通胀略有缓解，但仍接近2023年夏季以来的最高水平。更积极的是，在4月份与关税相关的衰退之后，产出增长预期反弹，达到2024年10月以来的最高水平，这得益于计划中的商业投资、销售好转的希望以及国内经济前景的改善。

The S&P Global UK Services PMI was revised slightly higher to 50.9 in May 2025 from a preliminary of 50.2, and above April's reading of 49. The latest figure signaled a tepid return to growth following a contraction in April, amid receding concerns about US tariffs. Prevailing demand conditions nonetheless remained challenging, as total new work dropped for the fourth time in five months, despite export sales remaining almost unchanged. Employment has declined for eight straight months, but the latest drop was the slowest since November 2024, mainly reflecting a negative impact on hiring plans from rising payroll costs. In terms of prices, input inflation eased slightly since April but remained near its highest levels since summer 2023. More positively, output growth expectations rebounded after April’s tariff-related slump, reaching their highest level since October 2024, driven by planned business investments, hopes for a sales turnaround, and improving domestic economic prospects.