KWEB - Worldwide Manufacturing Confidence Improves As Factories Shrug Off Red Sea Concerns
2024-02-02 23:22:00 ET
Summary
- Despite the supply concerns, manufacturers are looking to stronger demand and a shift in the inventory cycle to boost growth in 2024.
- Average supplier delivery times lengthened worldwide in January for the first time in a year, with companies often linking delays to the diversion of shipping away from the Red Sea.
- Input cost inflation picked up notably in the UK and the US, though further price falls were noted in the eurozone.
Global manufacturing supply chains lengthened in January for the first time in a year, according to PMI survey data. Disruptions to shipping in the Red Sea compounded supply delays linked to constrained traffic in the Panama Canal and adverse weather in the US. Raised shipping costs fed through to price hikes....
Worldwide Manufacturing Confidence Improves As Factories Shrug Off Red Sea Concerns