UK September Services PMI Revised Up to 52.1 as Inflation Pressures Accelerate

The UK Services PMI for September was revised up to 52.1 from the preliminary 51.7 estimate, down from August's 52.5 reading. The UK Final Composite PMI settled at a three-month low of 52.0, compared to 51.7 preliminary and 52.5 in August. Growth momentum slowed amid subdued demand and contracting export orders. Meanwhile, services input-cost inflation reached its fastest pace since June, driving the sharpest output-price increase since May. Services sector employment fell for the 24th straight month, though at a moderating pace, while markets price an 85% probability of an upcoming Bank of England rate hike.