Skip to content
Search

Latest Stories

UK Economy Remains Steady in September Amid Brexit Worries

UK economy remained stable and exhibited steady growth amid Brexit uncertainties in September, according to a private survey released on Wednesday (3).

September data pointed to another solid increase in business activity across the UK service sector, with the rate of growth easing only slightly since August. The latest survey indicated the fastest rise in employment numbers for seven months, which firms attributed to the need to alleviate stretched capacity and meet long-term business expansion plans.


Meanwhile, higher fuel prices led to another sharp rise in input costs, but relatively subdued demand conditions meant that output charges rose at the slowest pace since June 2017.

The seasonally adjusted IHS Markit/CIPS UK Services PMI Business Activity Index posted 53.9 in September, down from 54.3 in August. However, the latest reading was still above the 50.0 no-change value and slightly stronger than the average in 2018 so far (53.6).

Higher levels of business activity were attributed to a solid increase in new work and competitive pricing strategies during September, said IHS Markit / CIPS UK Services PMI.

Survey respondents noted that Brexit concerns among clients and heightened economic uncertainty remained the main constraints on growth.

Latest data indicated a moderate increase in employment numbers, with the rate of job creation the strongest since February. Anecdotal evidence suggested that tight labour market conditions had led to difficulties filling vacancies and often pushed up starting salaries.

Higher wage bills and rising fuel prices resulted in a sharp increase in cost burdens across the service sector in September. The overall rate of input price inflation was the fastest for three months and well above the low seen in February. However, prices charged by service providers increased at only a moderate pace, with the latest rise the slowest for just over one year.

Chris Williamson, Chief Business Economist at IHS Markit, which compiles the survey said, “the service sector continued to report solid steady business growth in September which, alongside news of sustained expansions in both manufacturing and construction, suggests the UK economy expanded by just under 0.4 per cent in the third quarter.”

Service sector firms recorded a slight upturn in confidence regarding the business outlook during September, although the degree of optimism remained subdued in comparison to the survey average.

More For You

Apple India Reroutes 97% of iPhones to US Amid Tariff Push

Apple iPhones are seen inside India's first Apple retail store in Mumbai, India, April 17, 2023.

REUTERS

Foxconn sends 97 per cent of India iPhone exports to US amid tariff push

NEARLY all iPhones exported by Foxconn from India between March and May were shipped to the United States, according to customs data reviewed by Reuters.

The data showed that 97 per cent of Foxconn’s iPhone exports during this period went to the US, significantly higher than the 2024 average of 50.3 per cent.

Keep ReadingShow less
London Tech Week: Indian firms show investment intent

Keir Starmer at London Tech Week in London on Monday (9)

London Tech Week: Indian firms show investment intent

MORE THAN 350 technology companies from India joined London Tech Week, which began on Monday – making it the largest-ever delegation from the country to attend the event.

London mayor Sadiq Khan’s office, City Hall, described the rise in Indian participation as a reflection of deepening ties between India and London’s tech sectors, following the recent signing of the India– UK Free Trade Agreement (FTA).

Keep ReadingShow less
London Tech Week

The discussion around inclusivity and parenthood is likely to remain in the spotlight.

Getty Images

London Tech Week: Woman entrepreneur says she was humiliated after being denied entry for bringing baby

A female entrepreneur has said she felt “absolutely humiliated” after being denied entry to London Tech Week because she was accompanied by her 18-month-old daughter.

Davina Schonle, founder and chief executive of AI start-up Humanvantage AI, had travelled from her home to attend the event at Olympia on Monday, 10 June. She said she had made a three-hour journey to London with her daughter, Isabella, only to be turned away on arrival because children were not allowed into the venue.

Keep ReadingShow less
Smartless Mobile launched by podcast trio

The move marks the first commercial spin-off from the Smartless podcast

Getty Images

Smartless podcast trio launches Smartless Mobile as low-cost phone service

The hosts of the popular Smartless podcast, actors Will Arnett, Jason Bateman and Sean Hayes, have launched a new mobile phone service in the United States. Called Smartless Mobile, the service offers a budget-friendly alternative to traditional phone plans and is aimed at users who spend most of their time connected to WiFi.

The move marks the first commercial spin-off from the Smartless podcast, which is known for its celebrity interviews and humorous tone. The new venture was announced in early June 2025 and has already begun accepting sign-ups across the US mainland and Puerto Rico.

Keep ReadingShow less