09/23/2024 – 7:35
The UK’s composite purchasing managers’ index (PMI), which covers the manufacturing and services sectors, fell to 52.9 in September from 53.8 in August, preliminary data released by S&P Global showed on Monday, 23. The result was below the expectations of analysts polled by The Wall Street Journalwhich predicted a drop in the composite PMI to 53.5 this month.
Only the UK services PMI fell from 53.7 to 52.8 in the same period, also falling short of the forecast. WSJof 53.5.
Meanwhile, the British manufacturing PMI fell from 52.5 in August to 51.5 in September, hitting its lowest level in three months and below the WSJ consensus of 52.2.
Despite the lower PMIs, readings above the 50 mark indicate that the British economy continues to expand.
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