2024-04-04 13:00:00 ET
Summary
- The Global Manufacturing PMI showed the time taken for factories to receive goods from their supplier shortened on average in March.
- Although only modest, the second successive monthly improvement in supplier delivery times is notable in signalling an easing of supply constraints after the Red Sea-related disruptions seen at the start of the year.
- There were also some noteworthy geographical price divergences, with a marked upturn in goods price inflation in the US contrasting with falling prices in the eurozone and mainland China.
Average supplier delivery times quickened slightly in March, according to the latest global PMI surveys, pointing to a further alleviation of supply disruptions emanating from the Red Sea crisis. The improvement in supply chains is good news for inflation, as companies reported an associated easing of supply-related global cost pressures during the month. ...
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Manufacturers Report Worldwide Supply Chain Improvement In March, Taking Heat Off Prices