Financial News: UK Private Sector Logs Slower Growth

UK Private Sector Logs Slower Growth

03/24/2026 - 09:03:00 (RTTNews)

(RTTNews) - The UK private sector registered a marked slowdown in business activity growth in March due to adverse impact of the war in the Middle East, survey results from S&P Global showed Tuesday.

The flash composite output index fell more-than-expected to 51.0 in March from 53.7 in February. The score was expected to climb to 52.8.

The index remained above the neutral 50.0 mark for the eleventh successive month. However, the score suggested the slowest expansion since September 2025.

"The war in the Middle East has hit the UK economy in March, stalling growth while driving inflation sharply higher," S&P Global Market Intelligence Chief Business Economist Chris Williamson said.

"Output growth across manufacturing and services has slowed to a crawl as companies blamed lost business directly on the events in the Middle East, whether through heightened risk aversion among customers, surging price pressures, higher interest rates, or via travel and supply chain disruptions," added Williamson.

Moreover, inflationary pressures surged on the back of rising energy prices and fractured supply chains.

The economist said the Bank of England faces a challenging period where it will need to balance these growth and inflation risks.

The flash services Purchasing Managers' Index posted 51.2 compared to 53.9 in the previous month. The score was seen at 53.0. Similarly, the manufacturing PMI slid to 51.4 from 51.7 in February. The expected score was 51.1.

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