Good morning, and welcome to our rolling coverage of the world economy, the financial markets, the UK supply chain crisis and business.
The UK’s supply chain crisis is hitting businesses and consumer confidence, as worries over inflation, the energy crisis and HGV driver shortages mount.
Output growth across UK businesses slowed for the fifth month running in September, hitting its lowest levels since the lockdown in March, according to accountancy and business advisory firm BDO LLP.
BDO’s latest Business Trends report shows that supply chain disruption and staff shortages are undermining the prospects for an economic recovery, with both manufacturing and services firms reporting a slowdown.
And in a worrying sign for households, BDO’s Consumer Inflation Index jumped to a 10-year high in September, pushed up by surging energy and fuel. That suggests consumers face rising prices over the coming months, as firms…