• About
  • Privacy & Policy
  • Contact Us
Procurement Nation
  • Home
  • Suppliers
  • Procurement
    • Shipping
    • Best Procurement Software
    • Supply Chain
      • What is supply chain management?
      • Tyson Foods Food Supply Chain
  • Markets
  • Banking
  • Cryptocurrency
  • Contact Us
No Result
View All Result
  • Home
  • Suppliers
  • Procurement
    • Shipping
    • Best Procurement Software
    • Supply Chain
      • What is supply chain management?
      • Tyson Foods Food Supply Chain
  • Markets
  • Banking
  • Cryptocurrency
  • Contact Us
No Result
View All Result
Procurement Nation
No Result
View All Result

German economic recovery loses momentum in Sept – flash PMIs

Mark White by Mark White
September 25, 2021
in Supply Chain
0


A worker wears a protective mask at the Volkswagen assembly line after VW re-starts Europe’s largest car factory after coronavirus shutdown in Wolfsburg, Germany, April 27, 2020, as the spread of the coronavirus disease (COVID-19) continues. Swen Pfoertner/Pool via REUTERS/File Photo

BERLIN, Sept 23 (Reuters) – Germany’s economic recovery from the COVID-19 pandemic lost momentum in September as activity in both the manufacturing and services sectors slowed amid supply bottlenecks and waning catch-up effects, a survey showed on Thursday.

IHS Markit’s flash Purchasing Managers’ Index (PMI) showed growth in the manufacturing sector slowed to an eight-month low reading of 58.5 from 62.6 in August. The subindex for the services sector slipped to a four-month low of 56.0 from 60.8 in August.

As a result, the flash composite PMI, which tracks the manufacturing and services sectors that together account for more than two-thirds of the German economy, dropped to a seven-month low of 55.3 from 60.0 in August.

IHS Markit analyst Phil Smith said the survey data suggested that business activity was beginning to level off after rebounding sharply over the summer months.

“However, despite the slowdown in September, the pace of economic growth in the third quarter still looks to have surpassed the 1.6% expansion seen in the three months to June,” Smith added.

While companies remained upbeat about their business outlook on hopes that the pandemic could be overcome soon, growth expectations were still held back by supply chain concerns and risks posed to demand from rising prices, Smith said.

The Ifo institute on Wednesday cut its 2021 growth forecast for Europe’s largest economy to 2.5%, pointing to supply chain disruptions and a scarcity of intermediate goods which combined are slowing down production in the industrial sector. read more

Reporting by Michael Nienaber, Editing by Hugh Lawson

Our Standards: The Thomson Reuters Trust Principles.



Source link

Previous Post

Supply constraints squeeze euro zone business growth

Next Post

Toy demand hits supply-chain snarls as Xmas looms

Mark White

Mark White

Mark White is the editor of the ProcurementNation, a Media Outlet covering supply chain and logistics issues. He joined The New York Times in 2007 as an commodities reporter, and most recently served as foreign-exchange editor in New York.

Next Post
Toy demand hits supply-chain snarls as Xmas looms

Toy demand hits supply-chain snarls as Xmas looms

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

  • About
  • Privacy & Policy
  • Contact Us
Call us: +1 234 JEG THEME

© 2021 Procurement Nation - Supply Chain & Logistics News

No Result
View All Result
  • Procurement
  • Supply Chain
  • Logistics
  • Science
  • Technology

© 2021 Procurement Nation - Supply Chain & Logistics News