UK services slipped into contraction in May for the first time in over a year, signaling mounting economic strain from persistent inflation and geopolitical uncertainty. The final Services PMI fell sharply from 52.7 to 49.3, while the Composite PMI declined from 52.6 to 49.7, marking the first downturn in overall private-sector activity in 13 months and the weakest performance since April 2023.