Supply delays threaten German manufacturing prospects: PMI
Published 2 months ago
BERLIN (Reuters) – Increasing supply delays threaten to slow Germany’s manufacturing sector, which remained in growth territory in January despite a hard lockdown to quell a second wave of the coronavirus, a survey showed on Monday.
IHS Markit’s Final Purchasing Managers’ Index (PMI) for manufacturing, which accounts for about a fifth of the economy, fell to 57.1, higher than a flash reading of 57.0 but lower than December’s 58.3 mark.
Factories in Europe’s biggest economy have been humming along during the pandemic on higher demand from abroad, giving the economy much needed impetus as the services sector stalls.
01 Feb 2021 / 18:35 H.
PETALING JAYA: Malaysia’s Manufacturing Purchasing Managers’ Index (PMI) slipped to 48.9 in January from 49.1 in December, signalling a marginal deterioration in the health of the sector, although one that was significantly softer than seen at the height of the novel coronavirus pandemic.
In its report, IHS Markit said both production levels and new orders were scaled back in January, although in less extents than seen in December.
Manufacturers commonly reported that the pandemic had dampened demand and confidence, while new restrictions had caused output and sales to be scaled back. Supply constrains also limited production and shipments.
At the same time, new export orders saw a further moderation in January, and to a greater extent than total new business as disruption in international markets strengthened as Covid-19 infections rose.
Updated / Monday, 1 Feb 2021
09:29
IHS Markit s final Manufacturing Purchasing Managers Index fell to 54.8 in January from December s 55.2
Euro zone manufacturing growth remained resilient at the start of the year but the pace waned from December as renewed lockdown measures across the continent, alongside supply shortages, hurt activity, a new survey showed.
With coronavirus infections soaring again in Europe countries have forced vast swathes of the bloc s dominant service industry to shut their doors.
This has left manufacturing to support the economy as factories have largely remained open.
IHS Markit s final Manufacturing Purchasing Managers Index (PMI) fell to 54.8 in January from December s 55.2, although that was a touch above the initial 54.7 flash estimate.