IHS Markit’s eurozone economic growth slowed to a six-month low in October

By: Trademagazin editor Date: 2021. 10. 22. 11:18

Growth in the euro area private sector slowed sharply to a six-month low in October as a result of worsening supply bottlenecks and a further outbreak of the coronavirus pandemic, according to preliminary data from IHS Markit’s London-based financial and economic reporting group.

Private sector growth in the euro area slows sharply

The euro area manufacturing purchasing managers’ index fell to an eight-month low of 58.5 points from 58.6 in the previous month. However, the index has been steadily above the 50-point mark that separates performance growth from decline since July last year.

Analysts expected a stronger decline of 57.0 points from October. Among the sub-indices, the value of the indicator reflecting the development of manufacturing output fell a lot as a result of supply and transportation problems, which decreased from 55.6 points in September to 53.2 points, a 16-month low. Of the individual sectors, the performance of automotive and auto parts manufacturers was the worst in October. (MTI)