Rolling coverage of the latest economic and financial news
- Latest: Supply shortages hit UK manufacturing growth…
- …as cost inflation reaches new record high
- UK inflation could top 5% by early 2022, says BoE chief economist
- Full story: Retailers hit by longest spending slump since 1996
- UK recovery ‘fast running out of steam’
- Consumer confidence lowest since lockdown
- Sainsbury’s ends talks on sale of banking operation
Output growth at Germany’s factories has also been hit by supply chain bottlenecks and inflationary pressures.
IHS Markit’s flash Germany composite purchasing managers’ index slipped to 52.0 in October, an eight-month low, from 55.5 the month before.
October’s flash survey pointed to the slowest rise in manufacturing new orders in the current 16-month sequence of expansion, with a number of firms highlighting the influence of ongoing chip shortages in the automotive sector.