# UK Business Growth Slows as Input-Price Inflation Accelerates

By Enna Lee

Canonical URL: https://www.tokenpost.com/news/investing/23382
Published: 2026-09-23T15:53:17.000Z
Updated: 2026-09-23T15:53:17.000Z

UK private-sector growth slowed in September as the S&P Global Flash UK Composite Output PMI fell to 51.7, while accelerating input-price inflation raised pressure on the economy.

The composite reading dropped from 52.5 in August to a three-month low, coming in below the 52.0 consensus estimate. It remained above 50, the level that separates expansion from contraction.

The data were released at 4:30 a.m. ET (08:30 UTC) on Sept. 23. The survey covered about 1,300 manufacturing and services companies, with responses collected from Sept. 10-21.

The services PMI fell to 51.7 from 52.5, also reaching a three-month low. Manufacturing PMI rose to 52.0 from 51.7, but manufacturing output fell to 51.4 from 52.1, its weakest level in six months.

Input-price inflation accelerated for a second consecutive month to its highest level since June. Companies cited higher energy, fuel and raw-material costs.

The PMI data pointed to quarterly economic growth of about 0.1%. Slower activity alongside faster cost growth may complicate interest-rate decisions, as higher prices support tighter policy while weaker growth raises concerns about borrowing costs.

“September is seeing a worrying combination of disappointingly sluggish economic growth and intensifying inflationary pressures, with subdued business confidence and high costs meanwhile continuing to discourage hiring,” said Chris Williamson, chief business economist.

“Growth, business confidence and employment are all being hamstrung by high energy prices, elevated business costs, geopolitical worries, higher market borrowing costs and uncertainty over government policy at home in the run up to the autumn budget,” Williamson said.

The UK reading contrasted with the preliminary U.S. composite PMI, which rose to 58.4 in September, its highest level since July 2021, as U.S. business activity accelerated.

## Links in this article

- [preliminary U.S. composite PMI](https://www.tokenpost.com/news/investing/23362)