• Email Us: [email protected]
  • Contact Us: +1 718 874 1545
  • Skip to main content
  • Skip to primary sidebar

Medical Market Report

  • Home
  • All Reports
  • About Us
  • Contact Us

European business growth hurt by supply issues, pricing in Sept -PMIs

October 5, 2021 by David Barret Leave a Comment

October 5, 2021

By Jonathan Cable

LONDON (Reuters) -Business growth across Europe remained strong last month but elevated inflationary pressures put a dent in demand while ongoing supply issues constrained activity, issues which are likely to continue, a survey showed on Tuesday.

Although many restrictions imposed to contain the coronavirus pandemic have now been lifted in the region, firms are suffering from shortages of staff, raw materials and transport.

HIS Markit’s final composite Purchasing Managers’ Index (PMI), seen as a good guide to economic health, sank to 56.2 last month from August’s 59.0, although still well above the 50 mark separating growth from contraction and just above a 56.1 “flash” estimate.

On Friday, a euro zone manufacturing PMI showed growth remained robust in September but activity suffered from supply chain bottlenecks, and the bloc’s dominant service industry also saw the pace of expansion slow.

A PMI for the services sector fell to 56.4 from 59.0, its lowest since May, while the new business index dropped to 55.3 from 57.9.

“Today’s data confirm the services sector remains on the path of recovery, but the pace of expansion softened. Despite the momentum remaining solid, inflationary pressures and supply-side disruptions weigh on the outlook,” said Maddalena Martini at Oxford Economics.

“Looking forward, we see these downside risks to remain towards the end of 2021.”

Demand fell to a five-month low as firms passed on part of rising input costs, which rose at a record pace, to consumers. The composite output prices index rose to 59.1 from 58.3, not far from survey highs set in the summer months.

Activity in Germany’s services industry continued to grow strongly in September, but the recovery from the pandemic lost momentum as catch-up effects waned and more companies were affected by supply bottlenecks.

In France, services growth slipped as inflationary pressures and COVID-19 protocols had an impact on businesses. Italian and Spanish services growth also slowed.

Meanwhile, in Britain – outside the currency union – the post-lockdown economic recovery avoided losing further momentum last month but companies increased prices at the fastest pace on record, adding to signs of rising inflation. [GB/PMIS]

(Reporting by Jonathan Cable; Editing by Catherine Evans)

Source Link European business growth hurt by supply issues, pricing in Sept -PMIs

David Barret
David Barret

Related posts:

  1. Canadian miner Teck considers sale, spinoff of $8 billion coal unit – Bloomberg News
  2. App Annie and co-founder charged with securities fraud, will pay $10M+ settlement
  3. China reports 73 new coronavirus cases for Sept 14 vs 92 day earlier
  4. Nine Hong Kong activists get 6-10 months in prison for unauthorised Tiananmen vigil

Filed Under: News

Reader Interactions

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Primary Sidebar

  • Why Is There No Nobel Prize For Mathematics?
  • These Are The Only Animals Known To Incubate Eggs In Their Stomachs And Give “Birth” Out Their Mouths
  • Constipated? This One Fruit Could Help, Says First-Ever Evidence-Led Diet Guidance
  • NGC 2775: This Galaxy Breaks The Rules Of “Galactic Evolution” And Baffles Astronomers
  • Meet The “Four-Eyed” Hirola, The World’s Most Endangered Antelope With Fewer Than 500 Left
  • The Bizarre 1997 Experiment That Made A Frog Levitate
  • There’s A Very Good Reason Why October 1582 On Your Phone Is Missing 10 Days
  • Skynet-1A: Military Spacecraft Launched 56 Years Ago Has Been Moved By Persons Unknown
  • There’s A Simple Solution To Helping Avoid Erectile Dysfunction (But You’re Not Going To Like It)
  • Interstellar Object 3I/ATLAS May Be 10 Billion Years Old, This Rare Spider Is Half-Female, Half-Male Split Down The Middle, And Much More This Week
  • Why Do Trains Not Have Seatbelts? It’s Probably Not What You Think
  • World’s Driest Hot Desert Just Burst Into A Rare And Fleeting Desert Bloom
  • Theoretical Dark Matter Infernos Could Melt The Earth’s Core, Turning It Liquid
  • North America’s Largest Mammal Once Numbered 60 Million – Then Humans Nearly Drove It To Extinction
  • North America’s Largest Ever Land Animal Was A 21-Meter-Long Titan
  • A Two-Headed Fossil, 50/50 Spider, And World-First Butt Drag
  • Interstellar Comet 3I/ATLAS Is Losing Buckets Of Water Every Second – And It’s Got Cyanide
  • “A Historic Shift”: Renewables Generated More Power Than Coal Globally For First Time
  • The World’s Oldest Known Snake In Captivity Became A Mom At 62 – No Dad Required
  • Biggest Ocean Current On Earth Is Set To Shift, Spelling Huge Changes For Ecosystems
  • Business
  • Health
  • News
  • Science
  • Technology
  • +1 718 874 1545
  • +91 78878 22626
  • [email protected]
Office Address
Prudour Pvt. Ltd. 420 Lexington Avenue Suite 300 New York City, NY 10170.

Powered by Prudour Network

Copyrights © 2025 · Medical Market Report. All Rights Reserved.

Go to mobile version