The Markit’s manufacturing PMI for Germany is down six tenths in October, standing at 57.8 points from 58.4 in September, below the 58.2 expected by the market. This is the worst result recorded by the indicator since January 2021.
According to the statement from IHS Markit, the German manufacturing sector remains afflicted by supply chain problems. Material shortages constrain production and new orders, while rising input costs drive a record rise in entry charges to factories. A further slowdown in job creation is also seen as optimism wanes.
The euro zone manufacturing PMI fell three tenths in October, falling from 58.6 to 58.3, disappointing the 58.5 forecast by experts. This is the lowest figure seen by the indicator since February.
For the Eurozone, IHS Markit highlights the drop to eight-month lows due to supply problems affecting manufacturers. Production and new order growth lose momentum, while Supplier lead times are drastically lengthened, driving inflation levels to new records.
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