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9/23, 10:37 AM (Source: TeleTrader)
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UK composite PMI down to 55.7 in September

Private sector activity in the United Kingdom fell to 55.7 in September to reach a three-month low, according to IHS Markit's preliminary report released on Wednesday.

The Flash UK Composite Output Index remained above the 50.0 no-change mark for the third consecutive month, signaling a sustained increase in private sector output. However, it was down from 59.1 in August and the lowest since June. The UK Manufacturing PMI registered 54.3 in September, down from 55.2 in August.

"The indication from the survey that growth momentum is quickly lost when policy support is withdrawn underscores our concern over the path of the labor market once the furlough scheme ends next month, and raises fears that growth could fade further as we head into the winter months, especially as lockdown measures are tightened further," said Chief Business Economist at IHS Markit, Chris Williamson.

Breaking the News / TF