UK September flash services PMI 51.7 vs 52.0 expected

Prior 52.5 Manufacturing PMI 52.0 vs 51.5 expected Prior 51.7 Composite PMI 51.7 vs 52.0 expected Prior 52.5 Comment: Chris Williamson, Chief Business Economist at S&P Global Market Intelligence said: “September is seeing a worrying combination of disappointingly sluggish economic growth and intensifying inflationary pressures, with subdued business confidence and high costs meanwhile continuing to discourage hiring. "Output growth across the manufacturing and services PMI surveys has slowed to a pace consistent with the economy growing at a mere 0.1% quarterly rate. Growth, business confidence and employment are all being hamstrung by high energy prices, elevated business costs, geopolitical worries, higher market borrowing costs and uncertainty over government policy at home in the run up to the autumn Budget. "While the upturn in the survey’s price gauges suggest the Bank of England looks likely to keep a hawkish bias, the worryingly lacklustre pace of business growth underscores the risk to the economy from higher borrowing costs.” This article was written by Giuseppe Dellamotta at investinglive.com.