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The Economic Times

National

UK business activity cools as inflation pressure ramps up, PMI shows

Inflation United Kingdom John Healey Iran SP Global

Growth in British business activity cooled this month and inflation pressure built, a survey showed on Wednesday, an awkward backdrop for finance minister John Healey ahead of his first budget next month.

The S&P Global UK Services Purchasing Managers' Index (PMI) fell in September to 51.7 from 52.5 in August, a three-month low, according to "flash" or preliminary data. A Reuters poll of economists had pointed to a reading of 52.0.

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