UK business activity slows as services PMI hits 3-month low

Business Sep 23, 2026

UK business activity slowed this month, with the latest S&P Global survey showing the Services PMI dropping to its lowest in three months.

Rising prices, with higher energy costs linked to conflict in Iran contributing to cost pressures, are making things tough for companies, especially in the all-important service sector.

S&P Global survey shows 0.1% growth

With inflation and borrowing costs climbing, S&P Global said its survey pointed to quarterly economic growth of around 0.1%.

Interestingly, manufacturing saw a slight boost, helped by rising domestic orders.

Still, most expect the Bank of England might raise interest rates on November 5.