BDRY - PMI Comment Trackers Data Reveal Europe Hardest Hit By Red Sea Crisis With Food Sector Among Most Affected
2024-02-09 02:15:00 ET
Summary
- S&P Global's PMI Comment Tracker data revealed that attacks on ships in the Red Sea had a notable impact on supply chains in January, affecting delivery times across a variety of manufacturing sectors.
- Supplier delivery times in the UK and eurozone lengthened for the first time in a year.
- While Europe faced the longest delays, there were reports of other economies also experiencing sea-related disruptions to their supply chains, including South Korea, Australia and USA.
January's global PMI data signalled improving global economic conditions at the start of 2024, in addition to a brightened outlook, with the sun shining especially brightly upon the financial services sector amid a loosening of financial conditions.
However, further improvements hinge largely on the outlook for global interest rates and inflation....
PMI Comment Trackers Data Reveal Europe Hardest Hit By Red Sea Crisis With Food Sector Among Most Affected