UK Composite PMI drops to 47.9 in August, a 31-month low
UK Composite PMI decreased to 47.90 points in August from 50.80 points in July of 2023, missing market expectations 50.3, reaching a 31-month low level.
Manufacturing PMI decreased to 42.50 points in August from 45.30 points in July of 2023, missing consensus of 45, reaching a 39-month low. Manufacturers meanwhile experienced a sharp and accelerated fall in production volumes, which extended the current period of decline to six months.
Services PMI decreased to 48.70 points in August from 51.50 points in July of 2023, missing estimates of 51.