UK’s Private Sector Output Hits a Six-Month Low as Supply Constraints Bite

UK’s Private Sector Output Hits a Six-Month Low as Supply Constraints Bite

(IHS Markit) The UK Composite Output Index hit a six-month low of 55.3 in August, from 59.2 in July as activity slowed due to supply chain constraints and staff shortages.

UK Composite Output Index

Services Business Activity Index also reached a six-month low of 55.5, a decline from 59.6 in July.

The Manufacturing Output Index fell to a six-month low of 54.1, from 57.1 in July.

The Manufacturing PMI was down to a 5-month low of 54.1, from July’s 60.4.

New order expansion eased slightly, with robust export sales supporting slowing domestic demand.

Job creation accelerated at the fastest rate since January 1998, driven by record hiring in the service sector.

Inflationary pressures slowed in August, with input prices increasing at the slowest rate in three months.

Business sentiment rebounded to its highest since May, after falling for four consecutive months.

FTSE 100 is up +0.39%, GBPUSD is up +0.44%.

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