UK business activity cools as inflation pressure ramps up, PMI shows
Prices charged by services firms rose at the fastest pace in four months as the broader private sector grew at its slowest since June, S&P Global said.
- Britain's private sector growth slowed to a three-month low in September, with the S&P Global flash composite PMI recording a reading of 51.7, down from 52.5 in August.
- Rising energy and fuel prices caused by the Iran war intensified input price inflation for the second consecutive month, hampering business confidence and discouraging hiring across the economy.
- Data from S&P Global suggests quarterly economic growth is running at a mere 0.1%, while manufacturing orders hit a three-year high, signaling resilience in Britain's industrial sector.
- Financial markets on Tuesday pointed to a roughly 60% chance that the BoE will raise interest rates on November 5, the week after Healey delivers the October budget.
- Optimism in the sector reached a seven-month high, yet chief business economist Chris Williamson warned that sluggish growth and high borrowing costs underscore significant risk to Britain's economy.
14 Articles
14 Articles
UK Growth Cools Over Budget Worries and Energy Shock, PMI Shows
UK business activity cools as inflation pressure ramps up, PMI shows
By Andy Bruce Sept 23 (Reuters) - Growth in British business activity cooled this month and inflation pressure built, a survey showed on Wednesday, an awkward backdrop for finance minister John Healey ahead of his first budget next month. The S&P Glob...
Crypto Briefing
Cryptocurrency News | Cryptocurrency Prices | Market CapS&P Global PMI shows UK business activity cools as inflation rises
UK composite PMI fell to 51.7 in September as services slowed and inflation accelerated, with S&P Global estimating GDP growth of just 0.1% for
The latest SBG survey data showed a slowdown in private-sector growth in the United Kingdom during September, influenced by rising costs and inflationary pressures that stunted the country's economic expansion momentum. For the composite Procurement Directorate's index, it fell to 51.7 points compared to 52.5 points in August, the lowest level in three months, indicating economic growth [...] the slowdown in British economic activity as inflatio…
Coverage Details
Bias Distribution
- 50% of the sources are Center
Factuality
To view factuality data please Upgrade to Premium
