In October 2024, the UK private sector experienced moderate growth, though the pace of expansion slowed for the second consecutive month, reaching its lowest level since November 2023.
In October 2024, the UK private sector experienced moderate growth, though the pace of expansion slowed for the second consecutive month, reaching its lowest level since November 2023. According to recent data, economic uncertainty is impacting business decisions, with clients delaying their commitments. Survey respondents cited these delays as a key factor contributing to the slowdown.
Employment figures were notably weak, as staffing levels in the private sector decreased for the first time this year, raising concerns about labor market stability. Additionally, private sector firms saw a sharp rise in average prices, with inflation reaching its highest point in three months. Despite this, the cost pressures facing businesses have eased, with price increases occurring at the slowest pace since November 2020.
The S&P Global Flash UK PMI Composite Output Index, which tracks private sector performance, fell to 51.7 in October, down from 52.6 in September. This decline represents the lowest level in 11 months, signaling only modest growth in the sector as economic challenges continue to weigh on business confidence.
Source: S&P Global
Fed Inflation Concerns RemainThe latest Federal Reserve minutes show that inflation remains a central concern for policymakers, even as recent economic data has reduced the urgency for another rate increase. Some officials believe price pressures are becoming more widespread, while a smaller group directly supported further tightening.
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Dollar Falls on Debt Concerns as Yields Rise (24 – 28 August)Global markets entered the week with the US dollar under continued pressure as concerns over federal debt and Treasury market management moved to the center of investor attention. The Dollar Index hovered near 98.8 following sharp losses in the previous week, while the US Treasury’s expanded bond buyback programme pushed longer-term yields and the dollar lower. The move supported gold, silver, and major currencies, while investors assessed its longer-term implications for US borrowing costs and the yield curve.
Detail Persistent USD Weakness Lifts Yields (08.24.2026)Global markets remained shaped by persistent U.S. dollar weakness, shifting central bank expectations, and renewed Middle East risks.
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