Source: IHS Markit
The United Kingdom output declined for the fourth straight month in September, dragged by ongoing supply-chain issues.
- The IHS Markit / CIPS Flash UK Composite Output Index fell to 54.1 in September. This is the weakest since March.
- Business activity dropped to a seven-month low of 54.6, as new order growth and job creation slowed, while employment fell amid shortages of available staff.
- Manufacturing output declined to a seven-month low of 51.8, as production posted modest growth amid supply bottlenecks and softening demand.
- The manufacturing PMI also slipped to a seven-month low of 56.3, marking the fourth month of deceleration. Delivery times lengthened while selling prices were unchanged from August.
- Business expectations for the coming year are at their lowest level since January due to supply issues and concerns over the ongoing COVID-19 pandemic.
- Brexit was also cited as the cause for global pandemic-related supply and staffing issues, along with the foregone export sales.