Britain's composite PMI fell to its lowest level since January 2021 in August

Standard & Poor's Global said that the composite purchasing managers' index, which combines the industrial and services sectors in Britain, fell to 47.9 points in August from 50.8 points in July, the lowest level since January 2021.

The PMI survey recorded the slowest growth in output prices since February 2021, and prices for services, which the Bank of England closely monitors, fell at the slowest pace since April 2021, and factory output prices fell to the lowest level since February 2016.

The manufacturing PMI fell to 42.5 points in August from 45.3 points in July, the lowest level since May 2020, and the services PMI fell to 48.7 points in August from 51.5 points in July, which corresponds to the lowest level in January in two years.

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