India, June 4 -- The UK service sector logged a renewed upturn in May amid rising confidence among clients along with receding concerns about US tariffs, final purchasing managers' survey data from S&P Global showed on Wednesday.
The services Purchasing Managers' Index climbed to 50.9 in May from April's 27-month low of 49.0. A reading above 50 indicates expansion. The score was above the initial estimate of 50.2.
The survey revealed that an increase in business activity generally cited the impact of improved business optimism after the US tariff-related slump seen in April.
Apart from that, the overall increased output levels were boosted by resilient consumer confidence, new marketing initiatives, and competitive pricing strategies.
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