Eurozone September final manufacturing PMI 58.6 vs 58.7 prelim
Latest data released by Markit – 1 October 2021
Meanwhile, Markit notes that:
“While Eurozone manufacturing expanded at a
robust pace in September, growth has weakened
markedly as producers report a growing toll from
supply chain headwinds.“Supply issues continue to wreak havoc across large
swathes of European manufacturing, with delays
and shortages being reported at rates not witnessed
in almost a quarter of a century and showing no signs
of any imminent improvement.“Growing supply and transport issues are not only
being cited as a major constraint on both production
and demand, but also once again drove prices
sharply higher in September.“Factory jobs growth has meanwhile also slowed
partly due to lower labour requirements amid the
widespread component shortages.“With costs rising and factories struggling to produce
enough goods to meet customer demand, the
average price of goods leaving the factory gate rose
at an increased rate in September, accelerating to
almost match the record price jumps seen earlier in
the summer.“The supply situation should start to improve now
that COVID-19 cases are falling and vaccination
rates are improving in many countries, notably in
several key Asian economies from which many
components are sourced, but it will inevitably be a
slow process which could see the theme of supply
issues and rising prices run well into 2022.”