Euro Zone Business Growth Slipped To Six-Month Low In Oct As Price Pressures Soared05 November 2021
Euro zone business growth slipped to a six-month low in October as supply chain bottlenecks and logistical issues related to the COVID-19 pandemic pushed input prices to rise at the fastest rate in over two decades, a survey showed.
A Reuters poll last month suggested growth in the bloc would slow to 1.1% this quarter after expanding 2.0% in Q3.
The services PMI index fell to a six-month low of 54.6 in October from 56.4.
Demand weakened though and the new business index dropped to 55.1 from 55.3.
In Britain, outside the currency union, businesses reported faster growth, data showed on Wednesday, but the Bank of England is likely to be worried about record rises in the costs faced by businesses, which are being passed on to consumers.
In the United States, a measure of services industry activity surged to a record high last month as declining COVID-19 cases boosted demand although businesses remained burdened by snarled supply chains and the resulting exorbitant prices.
Source : Reuters
Post by : Republic of Turkey Ministry of Trade