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8/23/2021, 10:30 AM (Source: TeleTrader)
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UK business activity growth declines in August

The Composite Output Index for the United Kingdom dropped to a 6-month low in August to 55.3 points, according to a preliminary report published by the IHS Markit on Monday.

Both the service and the manufacturing sector activity slowed this month, with indexes falling to 55.5 points and 60.1 points, respectively. However, the business activity continued expansion albeit at a slower pace compared to the previous month.

"Despite COVID-19 containment measures easing to the lowest since the pandemic began, rising virus case numbers are deterring many forms of spending, notably by consumers, and have hit growth via worsening staff and supply shortages," commented Chief Business Economist at IHS Markit, Chris Williamson.

Baha Breaking the News (BBN) / ND