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From our lens, the August data further reflects ongoing shifts in production sourcing within specific industry sectors. The top producing nations by notion of highest PMI levels were noted as India, Indonesia, Myanmar, Greece and Russia. The three specific regions of concern are the Eurozone, United Kingdom along with Taiwan.
India has again demonstrated the highest level of PMI growth and the report authors point to Greece, Indonesia, Russia and Brazil as demonstrating stronger rates of expansion. Observed was that manufacturing conditions across Greece have improved to the sharpest extent in two years. along with Vietnam, Thailand and Indonesia.
When you have a plethora of different information coming from foreign sources, keeping things clear is essential! When you talk to fellow SCM specialists in Greece or try to secure a safe logistics chain somewhere in the Middle East, you have to understand the culture. – Estimation of Socio-cultural Aspects.
Besides Germany , Greece , Lithuania , Malta , Ireland and the Netherlands experienced quarter on quarter GDP declines. Reuters indicated in its reporting this week that the Eurostat revision of Q1 data was principally due to the revised estimate from Germany’s statistics office indicating two subsequent quarters of GDP contraction.
Various industry supply chain and procurement management teams are obviously going to have to differentiate as to two different narratives presented in these separate reports. Greece experienced the highest PMI growth in the Euro sector followed by Spain and the Netherlands. This country’s PMI value slipped to 43.5 in June from 45.4
manufacturing and procurement activity levels, namely the ISM Report on Business Manufacturing PMI , and the S&P Global U.S. Further, the two prior strongest manufacturing output performers thus far in 2024, Greece and Spain , reportedly lost momentum in July.
However, we discern some added signs excess inventories and of production sourcing shifts. Source: S&P Global, April, 2023 Highlights of Regional Reporting Developed Regions Eurozone The S&P Global Eurozone Manufacturing PMI® fell again in March to a value of 47.3 compared to the February value of 48.5,
Counties reaching new highs were noted as Italy, noted as reaching a ten month high, Greece, Ireland and Spain. Report authors however, qualified that the domestic market demand was the prime source of activity growth. Manufacturing output volumes reportedly stabilized, after an eight month run of contraction.
Source: S&P Global Monthly PMI Reporting Highlights of Regional Reporting Continued High expansion in India Manufacturing activity levels across India remained at high expansion levels in May, outpacing all other regions. Reportedly Greece was the only member state to register an improvement in operating conditions.
Source: JP Morgan and S&P Global, December 2023 Key Highlights in Regional PMI Reporting India’s Manufacturing Sector Accelerates Overall manufacturing activity across India accelerated in November after a deceleration in October. Commenting on the November data, Bennett Parrish, Global Economist at J.P.
At the country level, Italy , Greece and France bounced back to 4-month, 2 month, and 3-month highs but remained in production contraction levels. Noted in the November report was that the rates of decline in output and new orders were: “.less less aggressive when compared to the near two-and-one-half year records seen in October.”
Source: Various published PMI reporting, 2024 and compiled by Ferrari Consulting and Research Group LLC This same global wide indicator ended 2023 at a value of 48.8 At the end of 2024, global production and procurement activity levels are equivalent to the beginning of 2019, the year prior to the Covid-19 global pandemic. (
Reportedly, with the exception of Greece , all other EU countries registered PMI declines, with Germany and Austria having the fastest rates of production declines. average of the three months of Q3, declined 1.5 percentage points from the average of Q2, and a significant 4.8 percentage point drop from the average of Q1.
We view such an indicator as clear evidence that sourcing for lowest cost manufacturing is again apparent among multi-industry supply networks. Stronger performance was noted for Greece and Ireland , both reporting 24 and so month highs, respectively. Contrasting Reporting for U.S.
Source: S&P Global Intelligence and compiled by The Ferrari Consulting and Research Group 2024 Select Regional and Country Highlights Eurozone Manufacturing Contraction Continues The HCOB Eurozone Manufacturing PMI® report for September was headlined with euro area manufacturing activity falling at its steepest pace thus far in 2024.
The only country with positive PMI growth was Greece , while Germany, France and Austria PMI levels were the lowest, Austria being 43.0 Further reductions in manufacturing employment were reported. Quicker declines in finished goods inventories and a softer reduction in pre-production stocks were noted. and France being 43.1.
Free Trade Agreements (FTAs) and Preferential Trade Agreements (PTAs) are designed to boost economic growth through trade by opening markets by way of progressive removal of customs duties, eliminating or reducing trade barriers and tariffs, lifting restrictions on services and even through public procurement. Falkland Islands (Malvinas).
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