Growth in business activity in the UK slowed in September, according to a closely watched survey that indicated a summer economic surge was at risk from new restrictions to curb coronavirus. The IHS Markit/Cips UK flash composite purchasing managers’ index, down from a 72-month high of 59.1 in August but still above the 50-mark separating expansion from contraction. The flash reading, based on 85% of the usual monthly responses, was taken before the prime minister announced further restrictions to control coronavirus on Tuesday. IHS Markit economist Chris Williamson warned: "Unemployment is likely to soon start rising sharply...(which) raises fears that growth could fade further as we head into the winter months, especially as lockdown measures are tightened further".
Read more: Daily Express
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