Eurozone manufacturing activity continued to show resilience in late 2021 as factories took advantage of an alleviation of bottlenecks in supply chains and stockpiled raw materials at a record pace, the Purchasing Managers Index (PMI, in the acronym in English).
IHS Markit’s final industry PMI fell to 58.0 in December from 58.4 in November, equaling the preliminary result and still comfortably above the 50 mark separating growth from contraction.
The industry sub-index repeated the November rate of 53.8.
“It was an incredibly challenging time for eurozone industry in the second half of 2021, but the latest survey data hasn’t spoiled the festive mood much,” said Joe Hayes, senior economist at IHS Markit.
“We have seen some initial but very welcome signs that the supply chain crisis that has affected production lines across Europe is starting to recede.”
This relief meant that the input price index fell to an eight-month low of 86.7 from 88.9, allowing factories to raise their prices at a much slower pace than in November.
Germany
In Germany, the PMI was 57.4 in December, unchanged from November and the lowest level since January 2021, according to an IHS survey.
The final reading was below the preliminary estimate for December and also the forecast of analysts consulted by The Wall Street Journal, of 57.9 in both cases.
Although stable, the result above the 50 mark shows that German manufacturing continued to expand in the last month of 2021.
Reference: CNN Brasil
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