| Time | Country | Event | Period | Previous value | Forecast | Actual |
|---|
| 07:15 | France | Services PMI | September | 51.2 | 50.5 | 53 |
| 07:15 | France | Manufacturing PMI | September | 50.6 | 49.8 | 47.8 |
| 07:30 | Germany | Services PMI | September | 47.7 | 47.2 | 45.4 |
| 07:30 | Germany | Manufacturing PMI | September | 49.1 | 48.3 | 48.3 |
| 08:00 | Eurozone | Services PMI | September | 49.8 | 49 | 48.9 |
| 08:00 | Eurozone | Manufacturing PMI | September | 49.6 | 48.7 | 48.5 |
| 08:30 | United Kingdom | Purchasing Manager Index Manufacturing | September | 47.3 | 47.5 | 48.5 |
| 08:30 | United Kingdom | Purchasing Manager Index Services | September | 50.9 | 50 | 49.2 |
| 10:00 | United Kingdom | CBI retail sales volume balance | September | 37 | 10 | -20 |
GBP dropped against other major currencies in the European session on Friday, declining to its lowest level since 1985 versus the U.S. dollar, as investors assessed the UK’s preliminary PMIs and government’s budget plans.
According to the preliminary estimates, the UK's manufacturing PMI improved slightly early this month but remained in contractionary territory, while its services PMI slipped into contraction territory for the first time since February 2021. As a result, the rate of decline of the UK’s composite PMI increased, pointing to worsening conditions in Britain’s economy, as companies continued to deal with surging costs and dropping demand.
The UK’s finance minister Kwasi Kwarteng announced that some taxes would be cut, planned corporate tax increases will not be imposed, and spending and debt issuance will rise to fund the stimulus.