Euro zone manufacturing PMI down in Oct amid supply chain issues

Friday, 05 November 2021 12:03:58 (GMT+3)   |   Istanbul

Markit’s Eurozone Manufacturing Purchasing Managers Index (PMI) posted 58.3 points in October, down from September’s 58.6 points and down slightly from the earlier flash estimate of 58.5 points.

The Euro zone manufacturing sector lost further momentum in October. The supply chain situation worsened in October, curbing production growth sharply during the month.

According to Markit, new export orders in October grew at the slowest rate since the beginning of the year, as demand eased amid supply chain issues.

“Production constraints at suppliers were reported alongside a growing list of logistical issues. These include a lack of shipping containers and inadequate freight capacity, port congestion, driver shortages and broader transport delays linked mainly to the pandemic,” Chris Williamson, chief business economist at IHS Markit, commented.

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