- A strong headline PMI reading masked just how tough business conditions are for manufacturers at the moment.
- A record rise in inventories meanwhile reflected increased efforts by manufacturers to build safety stocks, in turn driven by fears of ongoing shortages of inputs in coming months.
- As long as output continues to lag new orders, prices will have a tendency to rise. Only by watching the PMI sub-indices will these inflationary signals be observed.
For further details see:
Solid-Looking Eurozone PMI Headline Reading Masks Disappointing Production Growth