RAYC - Global Manufacturing Economy Reels From Intensifying Supply Shortages

• Although global manufacturing output growth ran at one of the fastest rates seen for over a decade in June, capacity constraints continued to develop, reflecting a lack of labour and a record worsening of supplier delivery times.
• The shortfall of payroll numbers to new orders was especially acute in the developed markets.
• A factor exacerbating the recent deterioration of global supply chains has been the renewed damaging effect from COVID-19 on manufacturing performance in many countries that are battling rising infection rates.

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