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....
Read the full article on Seeking Alpha
For further details see:
PMI Comment Trackers Data Reveal Europe Hardest Hit By Red Sea Crisis With Food Sector Among Most Affected