LONDON, May 6 (Xinhua) -- Britain's services performance saw a slight improvement in April from March's 11-month low, but input cost inflation continued to accelerate due to surging fuel prices, data from S&P Global showed on Wednesday.
The seasonally adjusted S&P Global UK Services Purchasing Managers' Index (PMI) Business Activity Index stood at 52.7 in April, up from 50.5 in March, signaling a slower rate of growth than at the start of the year.
Survey respondents widely commented on growth headwinds arising from the Middle East conflict, with worries about intensifying inflationary pressures, global supply shortages and elevated borrowing costs among factors holding back business and consumer demand, said the company.
Sluggish demand was reported in both domestic and export markets, it said, noting that some firms commented on lower export sales due to business travel disruptions and softer client demand in the Middle East.
Nearly 60 percent of the survey panel reported an increase in their average cost burdens in April, surging from 40 percent in March, the data also showed.
"Service providers recorded the fastest rise in average cost burdens since November 2022, which was overwhelmingly linked to greater transportation bills and increased salary payments," said Tim Moore, economics director at S&P Global Market Intelligence.
