Eurozone manufacturing output growth stalled last month as factories struggled to source raw materials while demand took a knock from steep price increases and fears about the economic outlook, a survey showed. Russia’s invasion of Ukraine, coupled with renewed Covid-19 related lockdowns in China, has exacerbated supply chain bottlenecks and left factories struggling and, forward-looking indicators in the survey did not point to an imminent turnaround. S&P Global’s final manufacturing Purchasing Managers’ Index (PMI) fell to a 15-month low of 55.5 in April from March’s 56.5, just above an initial “flash” estimate of 55.3 and still comfortably above the 50 mark that separates growth from contraction.
Published in The Express Tribune, May 3rd, 2022.
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