Equity

Growth in output and new orders slowed to five-year lows amid softer domestic and international demand. Export orders continued to rise, although growth eased from July. Employment declined fractionally for the first time in two-and-a-half years, while input buying increased for the 62nd consecutive month, albeit at its slowest pace. Finished goods inventories rose for the second month as weaker-than-expected sales prompted caution.

Cost pressures also eased, with input price inflation at a six-month low. Selling price inflation remained slight, with fewer than 7% of firms raising charges, while output charge inflation was at its weakest in 45 months. Business confidence improved to its highest since May, though it remained subdued by historical standards.