BERLIN—Germany’s economic downturn deepened in October, the flash S&P Global composite purchasing managers’ index showed on Monday as its reading fell to 44.1 from 45.7 in September, the lowest since May 2020, when the country was under a COVID-19 lockdown. High energy costs were a major factor, especially in manufacturing, where the rate of contraction…
Eurozone Likely to Endure Recession as Downturn Deepens
LONDON—The drop in eurozone business activity deepened last month, a survey showed, probably extinguishing any hope the currency union would avoid recession just as elevated inflation puts pressure on the European Central Bank to act. Businesses and consumers are wary of spending as the region heads into the winter months with already high energy prices…
World Factory Activity Weakens on Global Slowdown, Cost Pressures
October 3, 2022
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Asia & PacificBusiness & MarketsCompaniesconsumerscosteconomyEuropefactoryglobalinflationInternationalPMIWorld
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LONDON/TOKYO—Global factory output mostly weakened in September as slowing demand added to the pain from persistent cost pressures and tighter monetary policy, surveys showed on Monday, diminishing economic recovery prospects. The data clouds the outlook for a sustained recovery from the COVID-19 pandemic and could add to concerns of a global slowdown as major central…
Japan’s Factory Activity Expands at Slowest Pace in 20 Months: Flash PMI
TOKYO—Japan’s factory activity growth hit a 20-month low in September, as firms struggled with a global slowdown and pressure from high energy and raw material prices that was exacerbated by a weak yen. The au Jibun Bank Flash Japan Manufacturing Purchasing Managers’ Index (PMI) slipped to a seasonally adjusted 51.0 in September from the prior…
Japan’s Services Sector Shrinks for First Time in 5 Months in August: PMI
TOKYO—Japan’s services sector activity shrank for the first time in five months in August as a resurgence of COVID-19 infections hurt demand, a business survey showed. The contraction shows that a recovery of the world’s third-largest economy remains fragile at best and is worrying at a time when the global growth outlook is turning increasingly…
Eurozone Business Activity Contracted Again in August: PMI
LONDON—Eurozone business activity contracted for a second month in August as demand sank, with customers wary of the deepening cost of living crisis and gloomy economic outlook curtailing their purchases, a survey showed. S&P Global’s final composite Purchasing Managers’ Index (PMI), seen as a guide to economic health, fell to an 18-month low of 48.9…
Inflation, Recession Fears Weighing on US Business Activity
Inflation and risk of a recession are the top concerns for U.S companies in multiple sectors. These worries are beginning to weigh on overall operations, resulting in a slowdown in business activity and declining sentiment according to numerous indices. The National Federation of Independent Business (NFIB) Optimism Index highlighted that 37 percent of small business owners reported…
Eurozone Business Activity Contracted Again in August, Outlook Bleak
August 23, 2022
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Business & MarketsCompanieseconomic policieseconomyenergyEuropeeurozoneinflationMarketsPMIrecessionWorld
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LONDON—Business activity across the eurozone contracted for a second straight month in August as the cost of living crisis forced consumers to curtail spending while supply constraints continued to hurt manufacturers, a survey showed on Tuesday. The global economy is increasingly at risk from sliding into recession as Ukraine’s war and China’s strict COVID-19 lockdowns…
French Services Growth Slowed Less Than First Forecast in July: Final PMI
PARIS—Growth in France’s services sector weakened by less than initially expected in July, yet inflationary pressures were likely to weigh in the near-term on the euro zone’s second-biggest economy, a monthly survey showed on Wednesday. Data compiler S&P Global Market Intelligence said its final purchasing managers index for services fell in July to 53.2 points…
Eurozone Business Activity Contracted in July as Customers Stayed Home
LONDON—Business activity in the eurozone contracted slightly in July for the first time since early last year as consumers reined in spending amid a cost-of-living crisis, according to a survey which suggested the outlook for the economy was gloomy. S&P Global’s final composite Purchasing Managers’ Index (PMI), seen as a good gauge of economic health,…
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