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Purchasing Managers Index: Europe: Difference between revisions
Purchasing Managers Index: Europe (view source)
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== Developments == | == Developments == | ||
=== October 2023 === | |||
* HCOB Eurozone Composite PMI Output Index at 46.5 (Sep 47.2). 35-month low. HCOB <ref>https://www.pmi.spglobal.com/Public/Home/PressRelease/07c88facada84adfa625d9bbdc47585d</ref> | |||
* Eurozone Services PMI Business Activity Index at 47.8 (Sep 48.7). 32-month low. | |||
* New business falls at quickest rate since September 2012 when excluding pandemic | |||
October’s sharper downturn in activity reflected a worsening performance by service providers, as the decrease in factory production levels remained on par with that seen in September. Still, the latest survey data signalled the third month in succession in which output has fallen in both monitored sectors. | |||
Demand conditions played a key role in October’s stronger downturn in activity, with '''new orders placed for euro area goods and services falling at the quickest pace since May 2020.''' Excluding the pandemic-hit months, the latest drop in new business was the most substantial seen since September 2012, during the sovereign debt crisis. New business from abroad1 was a considerable drag, falling at one of the steepest rates since this particular series was first compiled in 2014. | |||
In turn, eurozone companies made further progress on their backlogs in October. Outstanding business volumes decreased strongly and at a rate that was broadly in line with September’s 39-month record. A sustained marked fall in capacity pressures led more companies to hold back on workforce expansion. Consequently, euro area private sector '''employment stagnated, ending a 32-month sequence of job creation.''' | |||
More positively, there was a cooling of cost pressures faced by euro area companies following two successive months of intensifying inflation. The rate of increase in firms’ operating expenses was sharp nonetheless, and only marginally weaker than September’s four-month high. '''Output price inflation cooled, however, to its weakest since February 2021.''' | |||
'''Countries ranked by Composite PMI Output Index: Octobe'''r | |||
Spain 50.0 2-month low | |||
Ireland 49.7 11-month low | |||
Italy 47.0 12-month low | |||
Germany 45.9 (flash 45.8) 2-month low | |||
France 44.6 (flash: 45.3) 2-month high | |||
[[File:Screenshot 2023-11-06 101341.png|center|thumb|821x821px|https://www.pmi.spglobal.com/Public/Home/PressRelease/07c88facada84adfa625d9bbdc47585d]] | |||
=== September 2023 === | === September 2023 === | ||