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Staff shortages and supply chain issues slow UK recovery

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Labour and supply shortages held back Britain’s economic recovery in August, according to the latest IHS Markit/CIPS Flash UK Composite PMI, which gave a reading of 55.3 for the month – the lowest since February and down from July’s 59.2. IHS Markit said the number of companies reporting that shortages of staff and materials were hurting growth was a record 14 times the normal level. Chris Williamson, chief business economist at IHS Markit, added: “Rising virus case numbers are deterring many forms of spending, notably by consumers, and have hit growth via worsening staff and supply shortages.”

 

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