英镑在抛售后企稳，财政担忧盛行。周四英镑小幅走高，在财政担忧和对雷切尔·里夫斯未来的不确定性之后企稳，因为英国财政部长在上一交易日引发了英国资产的抛售。

Sterling steadies after selloff, fiscal worries prevail.Sterling edged higher on Thursday, stabilising after fiscal concerns and uncertainty about Rachel Reeves' future as Britain's finance minister sparked a selloff across UK assets in the previous session.

英国标准普尔全球综合采购经理人指数从初步的50.7上调至2025年6月的52.0，高于5月的50.3，标志着在4月短暂收缩后连续第二个月超过50.0的增长阈值。产出以2024年9月以来的最快速度增长，但扩张速度仍然温和。尽管出口销售持续疲软，但新业务七个月来首次增长。对未来一年的商业乐观情绪较5月份略有缓解，表明市场情绪谨慎。在成本方面，投入价格通胀放缓至2025年迄今为止的最低水平，而产出价格通胀降至2021年2月以来的最低水平。

The UK S&P Global Composite PMI was revised up to 52.0 in June 2025 from the preliminary 50.7 and up from 50.3 in May, marking the second straight month above the 50.0 growth threshold after April’s brief contraction. Output grew at the fastest pace since September 2024, though the rate of expansion remained modest. New business increased for the first time in seven months, despite continued weakness in export sales. Business optimism for the year ahead eased slightly from May, indicating cautious sentiment. On the cost side, input price inflation slowed to its lowest level so far in 2025, while output price inflation dropped to its weakest since February 2021.

标准普尔全球英国服务业采购经理人指数从初步的51.3略微上调至2025年6月的52.8，高于5月份的50.9。最新数据显示，在订单再次改善的支持下，该国服务业的扩张速度加快，为2024年8月以来最强劲。新订单略有增加，标志着今年的第二次增长，并在国内市场需求增加的情况下达到2024年11月以来的最快增长率。然而，由于工资成本上升和产能压力疲软，就业继续强劲收缩。自2023年6月以来，积压的工作每月都在下降，这是15年来持续时间最长的下降。投入成本通胀连续第二个月放缓，降至2025年迄今为止的最低水平，导致近四年半来最低的价格涨幅。最后，服务提供商对12个月的前景仍持乐观态度，尽管自5月以来情绪略有缓解。

The S&P Global UK Services PMI was revised slightly higher to 52.8 in June 2025 from a preliminary of 51.3, and above May's reading of 50.9. The latest data indicated a faster expansion in the country's services sector - the strongest since August 2024 - supported by a renewed improvement in order books. New orders increased slightly, marking the second rise this year and hitting the fastest growth rate since November 2024, amid greater demand in domestic markets. However, employment continued to contract strongly, held back by rising payroll costs and weak capacity pressures. Backlogs of work have fallen every month since June 2023, marking the longest sustained decline in over 15 years. Input cost inflation eased for the second month to its lowest in 2025 so far, contributing to the weakest rise in prices charged for nearly four-and-a-half years. Finally, service providers remained optimistic about the 12-month outlook, though sentiment eased slightly since May.

英国采购经理人指数服务业收于52.8，创10个月新高。

UK PMI services finalized at 52.8, a 10-month high.