Global Market: UK business growth cools as inflation pressures build in September
British business activity weakened in September, with the services PMI falling to a three-month low while inflationary pressures intensified. Manufacturing improved modestly, but overall growth remained subdued. Weak hiring and business confidence, alongside higher borrowing costs, complicate the government’s outlook ahead of the October budget and increase pressure on the Bank of England.
Key Takeaways
- British business activity weakened in September, with the services PMI falling to a three-month low while inflationary pressures intensified.
- Manufacturing improved modestly, but overall growth remained subdued.
- Weak hiring and business confidence, alongside higher borrowing costs, complicate the government’s outlook ahead of the October budget and increase pressure on the Bank of England.
British business activity weakened in September, with the services PMI falling to a three-month low while inflationary pressures intensified. Manufacturing improved modestly, but overall growth remained subdued. Weak hiring and business confidence, alongside higher borrowing costs, complicate the government’s outlook ahead of the October budget and increase pressure on the Bank of England.
Original Publisher Attribution
This summary was curated from Economic Times.