UK PMI Shows Inflation Pressures at 16 Month Low but Uncertainty Hinders Employment

The UK manufacturing and service sectors contracted for a fifth month in December S&P Global flash PMI indices show. We continue to see mostly milder contractions but ongoing contractions, nonetheless. British companies cut staff for the first time since the COVID lockdowns of early-2021 with excess operating capacity developing relative to order book growth. Supplier delivery delays indicated the imbalance of supply and demand seen during the height of the COVID-19 crisis is now reversing. This shift saw Inflationary pressures … Continue reading “UK PMI Shows Inflation Pressures at 16 Month Low but Uncertainty Hinders Employment”

European PMI Shows Manufacturing and Services Improvement but Still in Contraction

European countries manufacturing and service sectors PMIs in December saw mostly improvements but nothing exciting S&P Global flash indices show. We continue to see mostly milder contractions but ongoing contractions, nonetheless. With ongoing aggressive ECB rate hikes 2023 faces further downside across these metrics that still are not reflecting a fraction of the lagging impact of tightened monetary policy. The S&P Global Eurozone Composite flash PMI® rose by one full point to 48.8 (47.9 consensus). Both the services (49.1, 48.5 … Continue reading “European PMI Shows Manufacturing and Services Improvement but Still in Contraction”

Germany December PMI Shows Declines in Manufacturing and Services Eased

German manufacturing and service sectors PMIs in December showed mostly modest improvements but nothing exciting S&P Global flash indices show. We continue to see the downturn in the German economy seen as easing. Recession risks overhang with the energy crisis and aggressive ECB rate hikes 2023 faces further downside across these metrics that still are not reflecting a fraction of the lagging impact of tightened monetary policy. German PMI December 2022  Firms’ costs notably rose at the slowest rate for … Continue reading “Germany December PMI Shows Declines in Manufacturing and Services Eased”

France Manufacturing and Services PMI Shows Deepening Downturn

The French flash French composite PMI slipped from 48.7 to 48.0 to signal a second consecutive monthly drop in output and the largest decline since November 2014 if the pandemic is excluded. France saw the steepest fall in its service sector activity for 22 months. There was a softening of the manufacturing downturn at the same time. With ongoing aggressive ECB rate hikes 2023 faces further downside across these metrics that still are not reflecting a fraction of the lagging … Continue reading “France Manufacturing and Services PMI Shows Deepening Downturn”