Golden October Data on June 5, Wednesday's survey showed that the UK's service sector rise fell from an 11-month high in April in May, and inflationary pressures fell to the lowest in three years, which may create conditions for the UK Central Bank cut interest rates later this year. The services PMI hit a six-month low of 52.9 in May. The composite PMI fell to a two-month low of 53.0 from a one-year high of 54.1 in April. According to S&P, the figure is in line with the 2nd quarter 2024 GDP rise 0.3%, and while it is an improvement from the shallow recession in the second half of last year, it is only half the growth rate of the first quarter. Both the services sector and the composite indicators saw the slowest output price growth in three years, long years. Joe Hayes, chief economist at S&P, said: "This is the third month in a row that services sales price inflation has slowed, which will be very encouraging for the UK monetary policy committee and shows that the trajectory of services prices is moving in the right direction." ”