UK business activity expansion slows in September

Thursday, 23. September 2021 10:31

The United Kingdom's private sector activity continued to expand in September, but at a slower pace compared to the prior month, the IHS Markit report released on Thursday showed. The Flash Composite Output Index landed at 54.1, marking a seven-month low.

The Flash UK Services Business Activity Index, as well as the Flash Manufacturing Output Index and the Flash Manufacturing PMI, slipped to the lowest level in the past seven months as well, with the readings at 54.6 points for the services index, and 51.8 points and 56.3 points for the following two indicators.

"The September PMI data will add to worries that the UK economy is heading towards a bout of 'stagflation,' with growth continuing to trend lower while prices surge ever higher," Chief Business Economist at IHS Markit Chris Williamson commented.

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