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Purchasing Managers Index: Europe: Difference between revisions
Purchasing Managers Index: Europe (view source)
Revision as of 15:52, 4 October 2023
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=== September 2023 === | === September 2023 === | ||
The eurozone economy ended the third quarter with another contraction in business activity, latest HCOB PMI survey data compiled by S&P Global showed, as output volumes across both the manufacturing and service sectors were constrained by deteriorating demand conditions. Indeed, new orders fell at the fastest pace in nearly three years, reflecting an accelerated fall in new business received by service providers. Businesses showed a greater reliance on backlogs as a method to sustain activity, with the latest survey data showing the strongest reduction in outstanding work since mid-2020. Confidence towards the 12-month outlook subsequently dwindled, with growth expectations slumping to their weakest for ten months.<ref>https://www.pmi.spglobal.com/Public/Home/PressRelease/389d8bc739764fbd86f3e4f55152700d</ref> | |||
* HCOB Eurozone Composite PMI Output Index at 47.2 (Aug: 46.7). 2-month high. | |||
* HCOB Eurozone Services PMI Business Activity Index at 48.7 (Aug: 47.9). 2-month high. | |||
* Demand for eurozone goods and services falls at strongest rate since November 2020\ | |||
* The rate of input cost inflation edged higher, although output charges rose at the slowest pace in just over two-and-a-half years. | |||
[[File:Screenshot 2023-10-04 094838.png|center|thumb|957x957px|https://www.pmi.spglobal.com/Public/Home/PressRelease/389d8bc739764fbd86f3e4f55152700d]] | |||
==== Manufacturing ==== | ==== Manufacturing ==== | ||
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* HCOB Eurozone Manufacturing PMI Output Index at 43.1 (Aug: 43.4). 2-month low. | * HCOB Eurozone Manufacturing PMI Output Index at 43.1 (Aug: 43.4). 2-month low. | ||
* Factory job losses intensify amid sinking new orders and deteriorating business confidence | * Factory job losses intensify amid sinking new orders and deteriorating business confidence | ||
==== Services ==== | |||
The HCOB Eurozone Services PMI Business Activity Index registered below the critical 50.0 level which separates growth from contraction for a second month in a row during September, signalling a sustained reduction in services output across the euro area. At 48.7, this was up from 47.9 in August and signalled a mild, but slower rate of decline | |||
* Weighing on activity was a further drop in demand for eurozone services. New business fell solidly and at the quickest pace since February 2021. | |||
* The rate of backlog depletion was the strongest since early-2021. | |||
* Employment continued to rise, albeit only modestly, while business confidence fell to a ten-month low. | |||
* Lastly, September survey data signalled the strongest rise in input prices for four months. The rate of increase remained steep overall and well above its long-run average. Prices charged were raised in response, albeit to the softest extent since August 2021. | |||
=== August 2023 === | === August 2023 === | ||