S&P Global flash PMI shows UK private-sector growth slowing in September as price pressures rise
Published · Updated
What happened
S&P Global and CIPS published September flash PMI readings for the UK on 23 September. The survey indicated slower business activity growth and firmer price pressures across the private sector, according to the release and Reuters market coverage.
Why it matters
Flash PMIs are one of the earliest monthly reads on output, orders, employment and prices. A softer activity signal combined with firmer price measures can shift market expectations for Bank of England rate cuts and alter fiscal assumptions before a budget statement.
S&P Global/CIPS flash PMI data released on 23 September showed UK private-sector activity cooling in September while input and output price pressures picked up. The combination points to weaker near-term growth alongside firmer inflation pressures just ahead of Budget preparation and the Bank of England's next communications window. For ministers, the release narrows room for a growth-friendly fiscal tone without reopening questions about inflation persistence.
Watch for
Bank of England MPC members' public remarks or published speeches on inflation persistence and rate timing on 2026-09-24 to 2026-09-27 UK Debt Management Office gilt auction results and bid-to-cover ratios on 2026-09-24 to 2026-09-27 HM Treasury briefing or fiscal event guidance referencing Budget headroom or revised assumptions on 2026-09-24 to 2026-09-27 Overnight index swap pricing for the next Bank of England rate move at the London close on 2026-09-24 and 2026-09-25
Sources
- Press Releases · pmi.spglobal.com
- UK · reuters.com
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