UK Business Activity Posts Broad Growth in September, Supply Woes Continue

Source: Markit Economics

The United Kingdom posted broad-based growth in September, but supply constraints continued to be detrimental to business activity during the month. EWU is up 0.43% premarket.

• The PMI Business Activity index posted strong growth in several areas, such as Wales at 57.1, the West Midlands with 56.3, Scotland with 56.1, London with 55.9.
• The North East region was unchanged at 51.0, posting a marginal increase and falling at the bottom of the rankings.
• Demand posted growth across nearly all areas in September, except for Northern Ireland, where new business fell marginally for the first time in six months.
• Job creation generally eased, but employment posted a steep rise across most of the nations and regions except for the North East, where it was little changed.
• Costs remained strong, with Northern Ireland posting the fastest inflation followed by Wales and the West Midlands, with London posting the slowest.
• Business expectations maintained strength, with South Eastern firms posting the strongest growth for the first time in the past five months.
• Confidence slipped in most of the areas, except for Northern Ireland, which still registered the weakest overall.