Get 14 Days Free
(Alliance News) – The UK private sector fell further into decline in September, preliminary figures on Friday showed.
The latest S&P Global/CIPS flash composite purchasing managers’ index fell to 48.4 points in September, from August’s final figure of 49.6. The PMI fell further below the 50.0 neutral mark, suggesting the decline deepened in September.
“Though modest, the rate of contraction was the quickest seen since January 2021, with businesses often commenting on the negative impacts of high costs and a weaker economic outlook on client spending and output,” S&P Global said.
“Employment remained a bright spot, which continued to rise strongly overall in September, despite the rate of job creation being unchanged from August’s 17-month low. However, signs of spare capacity became increasingly apparent, with backlogs of work falling at a quicker pace.”
The flash services PMI fell to a 20-month low of 49.2 points in September from 50.9 in August.
The flash manufacturing PMI hit a two-month high but remained in negative territory. The flash PMI rose to 48.5 in September, from 47.3 in August.
Input and output cost inflation calmed but remained “steep”, S&P Global.
The S&P Global survey is sent to a panel of 650 manufacturing and services firms, with results collected in the second half of the month. Final manufacturing survey results will be published on October 3, before the composite and services readings two days later.
By Eric Cunha; ericcunha@alliancenews.com
Copyright 2022 Alliance News Limited. All Rights Reserved.
(Alliance News) – Chancellor Kwasi Kwarteng has denied suggestions he is gambling with the UK …
(Alliance News) – Ireland’s annual producer price growth slowed in August, figures on Friday …
(Alliance News) – Bank of Ireland Group PLC on Friday said it has returned to full private …
(Alliance News) – The following is a summary of top news stories …
(Alliance News) – UK Chancellor Kwasi Kwarteng abolished the top rate of income tax for the …
Mining companies are operating in a challenging environment but could now be the time to top up o…
THE WEEK: Morningstar columnist Rodney Hobson provides two pieces of advice to George Osborne, an…
Businesses that have competitive advantages within their industry are good candidates for dividen…
Morningstar reveals the top 10 best performers over the last five years
Morningstar OBSR reveals the top funds for investors seeking exposure to European equities
Chancellor Kwasi Kwarteng has unveiled a “growth plan” with major tax cuts – and bond markets don…
From tax cuts to green flights, these are the peculiar things we’ve learned this week
Morningstar believes these companies are trading below their fair values
How behavioural science has made investing easier, but also more perilous
Interest rates hit 2.25% but the Bank expects inflation to peak lower as the energy price guarant…
Alliance News provides Morningstar with continuously updating coverage of news affecting listed companies.
About Us
Connect With Us
Get Help
Terms of Use Privacy Policy Modern Slavery Statement Cookie Settings
The Morningstar Star Rating for Stocks is assigned based on an analyst’s estimate of a stocks fair value. It is projection/opinion and not a statement of fact. Morningstar assigns star ratings based on an analyst’s estimate of a stock’s fair value. Four components drive the Star Rating: (1) our assessment of the firm’s economic moat, (2) our estimate of the stock’s fair value, (3) our uncertainty around that fair value estimate and (4) the current market price. This process culminates in a single-point star rating that is updated daily. A 5-star represents a belief that the stock is a good value at its current price; a 1-star stock isn’t. If our base-case assumptions are true the market price will converge on our fair value estimate over time, generally within three years. Investments in securities are subject to market and other risks. Past performance of a security may or may not be sustained in future and is no indication of future performance. For detail information about the Morningstar Star Rating for Stocks, please visit here
Quantitative Fair Value Estimate represents Morningstar’s estimate of the per share dollar amount that a company’s equity is worth today. The Quantitative Fair Value Estimate is based on a statistical model derived from the Fair Value Estimate Morningstar’s equity analysts assign to companies which includes a financial forecast of the company. The Quantitative Fair Value Estimate is calculated daily. It is a projection/opinion and not a statement of fact. Investments in securities are subject to market and other risks. Past performance of a security may or may not be sustained in future and is no indication of future performance. For detail information about the Quantiative Fair Value Estimate, please visit here
