LONDON—Euro zone manufacturing output growth stalled last month as factories struggled to source raw materials while demand took a knock from steep price increases and fears about the economic outlook, a survey showed.
Russia’s invasion of Ukraine, coupled with renewed COVID-19 related lockdowns in China, have exacerbated supply chain bottlenecks and left factories struggling and forward-looking indicators in the survey did not point to an imminent turnaround.
S&P Global’s final manufacturing Purchasing Managers’ Index (PMI) fell to a 15-month low of 55.5 in April from March’s 56.5, just above below an initial “flash” estimate of 55.3 and still comfortably above the 50 mark that separates growth from contraction.
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