Overview
- Britain’s services PMI rose to 54.0 in January, the strongest since August 2025, as prices charged accelerated to a five‑month high and hiring fell for a 16th straight month.
- UK firms cited post‑Budget clarity and firmer export demand for improved activity, lifting the composite PMI to 53.7 and business confidence to its highest since October 2024.
- The eurozone’s final services PMI eased to 51.6 and the composite to 51.3, both four‑month lows, with new orders barely growing and employment stagnating ahead of the ECB’s Feb. 5 decision.
- France’s services PMI fell to 48.4, indicating contraction as new business dropped at the fastest pace in six months, pulling the composite to 49.1 and reflecting uncertainty tied to the budget deadlock.
- Outside Europe, the U.S. ISM services index held at 53.8 with a jump in prices paid to 66.6, while Canada’s services activity fell to 45.8 as trade strains weighed on demand.