Euro zone manufacturing PMI down slightly in Sept, supply chain issues weaken growth

Friday, 01 October 2021 16:36:00 (GMT+3)   |   Istanbul
       

Markit’s Eurozone Manufacturing Purchasing Managers Index (PMI) posted 58.6 points in September, down from August’s 61.4 points and down slightly from the earlier flash estimate of 58.7 points.

Euro area manufacturers recorded another strong improvement in operating conditions in September, amid further market rates of expansion in output, new orders and employment.

Following on from the sharp rates of increase seen in previous months, new export orders in September grew at the slowest rate since January.

According to Markit, supply constraints were a key hindrance to production schedules during September, while softer demand conditions were another contributing factor. Supplier delivery times continued to lengthen to a substantial degree in September. The impacts of supply chain issues such as poor container availability and logistical problems arising in parts of Asia were also evident in input purchasing and inventories.

“While Eurozone manufacturing expanded at a robust pace in September, growth has weakened markedly as producers report a growing toll from supply chain headwinds,” Chris Williamson, chief business economist at IHS Markit, commented.


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