South Africa's private sector contracts again in September - PMI

Glasgow Scotland Great Britain. Scotland's economy is better than England's which could be a factor during the Scottish

The seasonally adjusted IHS Markit UAE Purchasing Managers' Index (PMI), which covers manufacturing and services, fell slightly to 51.1, from 51.6 in August.

It was the first time since April 2013 that the composite index fell below the 50 mark that separates growth from contraction and was below the flash reading of 49.1.

"Private sector activity is showing signs of momentum, although panellists continue to highlight cash flow issues that they face", said Jibran Qureishi, regional economist for East Africa at Stanbic Bank.

Firms saw an extension of the decline in new orders during September, recording a 15th successive monthly fall in total demand. Buying levels declined at the joint-fastest rate since January 2010 due to lower operational requirements and increased efforts to contain costs. "After a relentless six-month decline in order books driven by Brexit uncertainty and political indecision, this is hardly surprising".

The deterioration was the second-strongest since April 2009 and broad-based across all three broad categories of construction work, IHS Markit said.

United Kingdom construction activity fell at the second-fastest rate since the financial crisis in September, a closely-followed survey of the industry showed today. This in turn had significant knock-on effects on construction employment with the biggest fall in staffing levels since December 2010. "Even a moderation in input prices since March 2019 and some moderate improvement in supply chain pressures will not be enough to keep the wolf from the door as no-deal looms and businesses remain Brexit unsteady".

New business for Japanese service providers expanded for the 38th month, though the pace of growth was notably weaker than earlier in the year.

"Low confidence has subsequently caused construction order books to fall substantially".

Williamson said the PMI indicated the bloc's economy would expand 0.1 per cent this quarter at best, weaker than the 0.2 per cent predicted in a Reuters poll last month.

At the same time, business confidence sank to one of the lowest levels seen in over two-and-a-half years.

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