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UK economy slowed in September, with manufacturing contraction and weak growth, driven by high inflation and declining confidence.
Britain's economy slowed in September, with the Composite PMI falling to 50.1—the lowest in five months—driven by a 12th consecutive month of manufacturing contraction and weak service sector growth.
Production and new orders declined for over a year, while business and consumer confidence hit record lows, with 62% of consumers believing the economy is worsening.
High inflation, especially in food expected to reach 6% by year-end, and rising costs are prompting households to cut spending and delay major purchases, while firms reduce investment and jobs amid uncertainty over the upcoming Autumn Budget.
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La economía del Reino Unido se desaceleró en septiembre, con una contracción de la industria manufacturera y un crecimiento débil, impulsado por una alta inflación y una confianza en declive.