Economic data alert1 Oct 2021 10:37
Manufacturing upturn slows further as supply-chain strain and labour shortages stymie growth
Key findings
UK Manufacturing PMI at 57.1 in September
Output and new orders rise at slowest rates since February
New export business falls for first time in eight months
The September PMI highlights the risk of the UK descending towards a bout of 'stagflation', as growth of manufacturing output and new orders eased sharply while input costs and selling prices continued to surge higher.
“Companies are facing a growing list of headwinds, which includes declining new export orders, component shortages, delays to air, land and sea freight, staff shortages exacerbated by COVID-19 illnesses, Brexit disruptions, sharply rising costs and now fuel shortages.