UK Services Sector Registers Growth Increase as Index Hits 55.4 in September

UK Services Sector Registers Growth Increase as Index Hits 55.4 in September

(IHS Markit) UK Services Business Activity Index was 55.4 in September, a slight recovery from a six-month low of 55.0 in August.

UK Services Business Activity Index

Despite the recoveries in the UK service sector, supply constraints increased price pressures. The inflation rose at the second-fastest on the series record.

New order growth eased for the fourth straight month, reflecting supply issues and the end of the stamp holiday, as well as staff shortages which created backlogs.

Business optimism eased from August, but about 57% of survey respondents expect an uptick in output in the next twelve months.

GBPUSD is up +0.14%, FTSE 100 is up +0.70%.

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