• 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

  • Bear-Sized Snow Sloths? Meet Megalonyx, The Ice Age Giants That Lived Until 13,000 Years Ago
  • Why Can’t Mormons Drink Coffee?
  • In 1997, A Zoo Chimp Amazed Scientists By Gathering Rocks To Throw At Visitors
  • YouTuber Films Laser Light At 2 Billion Frames Per Second In His Garage
  • The Time To Watch Comet Lemmon Is Now
  • Ig Nobel-Winning “Butt-Breathing” Technique Moves One Step Closer To Saving Lives
  • What Is The Oldest Religion In The World?
  • This Mini Dragon Is One Of The World’s Rarest Amphibians With Just 150 Individuals Living In One Lake
  • “Alien Mothership” Hypothesis About To Have Key Test As Interstellar Object 3I/ATLAS Hits Solar Conjunction And Perihelion
  • 18 Of These Rare Mammals Live In The Wild. Have We Reached A Turning Point In Their Return To The US?
  • How Comet 2P/Encke Caused “Halloween Fireballs” To Rain Down On The Earth
  • US Flight Potentially Hit By Space Debris – What Are The Chances That The Claim Is Correct?
  • Hormone Therapy For Trans Women Shifts Dozens Of Proteins To Align With Their Gender Identity
  • People Are Not Reacting Well After Learning How Cranberries Are Grown
  • The World’s Newest Great Ape Is Also Its Rarest, With Fewer Than 800 Left In The Wild
  • IFLScience We Have Questions: Can Burying Scientists Alive In The Snow Help Us Protect Polar Bears?
  • Scientists Perplexed By 407-Million-Year-Old Fossilized Plant That Doesn’t Follow The Fibonacci Sequence
  • This Giant Goldfish Hybrid Weighs As Much As A 10-Year-Old – A Stark Warning About Dumping Pets
  • Scientists Gave Mice Neanderthal And Denisovan Genes. The Results Were Intriguing
  • 2024 Saw Higher Levels Of Carbon Dioxide In The Atmosphere Than Ever Before
  • 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