Factory Slump Drags UK Economic Growth to 18-month Low

Prime Minister Boris Johnson (C), visits the division manufacturing the wings for the A350 during a tour of the Broughton Airbus plant, on August 12, 2022 in Chester, United Kingdom. Oli Scarff - WPA Pool/Getty Images

UK private sector growth has slowed to a new 18-month low after factories were hit by “waning customer demand”, according to new data.

The closely followed S&P Global/CIPS flash UK composite purchasing managers index (PMI) report showed a reading of 50.9 for August, declining from 52.1 last month.