Morning all, new economic data this week continues to paint a general picture of slow, perhaps grudging, growth in multiple areas – but not manufacturing.

We saw in GDP data that it had been hit in the second quarter and more numbers today back that up.

The latest data on UK manufacturing PMI from S&P shows a September slowdown, hot on the heels of ONS’ data showing the sector fell in the second three months of the year.

Rob Dobson, director at S&P Global Market Intelligence, said: “The final Manufacturing PMI results provide further worrying news for the health of UK industry.”

Commenting on what it might mean going forward, Mike Thornton, head of industrials at RSM UK, said: “The latest fall in manufacturing activity in September was another blow for the sector, showing a continued downward trend rather than a seasonal dip in August.

“The output index has dropped to 45.7, the lowest level since March, signalling a sharp slowdown in production levels as weak demand, falling new orders and subdued export activity continue to weigh heavily on the sector.

“This sustained contraction suggests manufacturers are scaling back operations to mitigate deteriorating market conditions, with little sign of a rebound in the short term. Businesses should therefore expect a stagnant outlook for the remainder of the year.”

Business confidence slumped to its lowest level on record last month amid concerns over soaring costs, according to a new survey of company bosses.

Data from the Institute of Directors (IoD) showed that firms said higher labour costs has been the biggest contributor to growing pessimism about the economy.

The industry group’s monthly economic confidence index, which measures business leader optimism about the prospects of the UK economy, posted a minus 74 reading for September.

It marked a significant decline from minus 61 and struck the lowest level since the index was launched more than nine years ago.

The US government is now in shutdown, with the two parties not managing to agree a funding plan.

While stock markets have generally not reacted too much to this outcome – futures show the S&P 500 down about 0.5 per cent – the dollar has weakened further.

That means you are right now getting more for your money if you are heading to the US.

£1 is now $1.3465, up almost 0.2 per cent today.

It was slightly higher earlier and we can expect a little more movement across the day.

At the start of the year it was $1.2521 – it’s up more than 7.3 per cent since then.

The City is cheering new FTSE 100 highs today, as the benchmark index topped 9,400 points for the first time ever.

After rising 0.7 per cent this morning, it’s currently around 9,414 points.

The highest risers include pharma trio AstraZeneca (up 6.1%), Hikma (3.6%) and GSK (2.5%).

“AstraZeneca, Hikma and GSK rallied after Donald Trump announced plans to launch a government-run website for consumers to buy drugs directly from manufacturers. It looks like investors are regaining confidence in the pharma sector following recent uncertainty around pricing and tariffs. More clarity on both points is helping to regain investors’ interest,” explained Russ Mould, investment director at AJ Bell.

Greggs has revealed its sales rose in recent months but blamed unusually hot July weather and a tough consumer backdrop for a slowdown in growth.

The high street bakery chain, with 2,675 shops in the UK, has continued to expand its sprawling estate across the country.

It reported a 6.1% increase in sales over the third quarter of 2025, compared with the same period a year ago.

On a like-for-like basis, which strips out the impact of new shop openings, sales growth across company-managed shops slowed to 1.5% year on year.

Another reminder that 5 October is fast approaching – and that’s the deadline to register for self assessment if you have a side hustle and your income from it is beyond £1000.

To put that in perspective if you’re on Vinted, eBay and anywhere else – that’s only an average of £20 a week means you surpass that threshold.

Kate Steere, money expert at Finder, said: “Side hustles are becoming increasingly popular as household budgets are squeezed by inflation, but many people don’t realise they could be liable for tax even if they’re earning a relatively small amount on the side each month. All it takes is earning more than £80 a month, and you’ve exceeded the £1,000 yearly limit.

“If you’re in this boat, while you don’t need to submit your tax return until the end of January, you do need to register for Self Assessment before 5 October.

“Miss this, and you could face a failure-to-notify penalty. While you’re at it, why not give your future self a break by opening a dedicated business account? Separating your personal finances from your side hustle income will make the whole process that much smoother when it comes to filing your tax return.”

Credit card firm Aqua have released results of a survey of 500 young adults (18-24 year olds) and, while a small sample size, the results are eye opening.

The top financial lessons they wish they’d known earlier are ‘how to invest’ (21%), ‘how to budget’ (19%) and detail around what credit scores mean (18%).

Perhaps more notable is where they are going for this.

18-24-year-olds are more likely to turn to TikTok (22.2%) than to their university (15.8%) for financial guidance, reads the report.

Good that they are going out and trying to find the information, of course, but be wary on social media – there’s a lot of misinformed or outright incorrect stuff on there.

Always ensure you’re using reputable accounts, persons or companies if that’s where you go for info.

Aqua’s Sharvan Selvam said: “These results show that many young people feel underprepared when it comes to managing their money, especially around credit and budgeting. It’s worrying to see such high levels of stress around finances at such a formative stage in life, and it highlights the need for more practical, accessible guidance.”

International Distribution Services (IDS), the firm which owns the postal service, has concluded a purchase of 49 per cent of shares in parcel company Collect+, with part of the deal meaning about 8,000 stores will now be branded Royal Mail.

It means high street stores will sell postage over the counter and customers can pay bills in person rather than only online.

The deal, which is worth £43.9m, will also see self-service kiosks installed in some shops next year, extended opening hours including weekends and evenings – plus retaining the normal operations of Collect+, which include sending and returning parcels from other carriers.