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Aihucha News, September 22: PMI data shows that British companies performed much harder than expected in September, with unemployment and recession risks rising. The survey underscores why the Bank of England paused raising interest rates this week. The UK's services PMI fell from 49.5 to 47.2 in September, further falling below the 50 threshold that separates prosperity and contraction, the lowest since January 2021. Apart from the COVID-19 pandemic, the last time the services PMI fell to such lows was during the global financial crisis. Chris Williamson, chief business economist at S&P Global, said: "The disappointing September PMI survey means the UK is increasingly likely to slip into recession. A major concern about the inflation outlook is wage growth, but With surveys showing the sharpest decline in employment since 2009, wage bargaining power is rapidly eroding."