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Friday, September 03, 2010
Friday, September 03, 2010
Latest Procurement News
Posted: Tuesday, November 24, 2009, 8:46AM
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KNOWLEDGE MANAGEMENT TAGS
"Benchmarking"
Markit Eurozone Manufacturing PMI shows strong growth
The final Markit Eurozone Manufacturing PMI for October was 50.7, up from 49.3 in September. The result marks the first improvement in business conditions since May of last year.The PMI is a composite index based on measures of output, orders, employment, inventories and supplier performance, and the improvement in the indicator, albeit marginal, marked an end to what has been by far the longest and deepest downturn since PMI data were first collected in 1997.
According to the Index, output increased for the third month running in October, signalling the strongest monthly expansion since January of last year. However, output disparities widened within the euro area. French manufacturers reported a further marked acceleration in output growth to outperform all other euro nations by a wide margin, recording the fourth consecutive monthly rise in production and the fastest rate of increase for just over nine years. Germany saw the second strongest growth, as output rose at the fastest pace since June of last year, closely followed by Austria and the Netherlands, which both likewise saw growth accelerate during the month. In contrast, output fell in Spain, Ireland and Greece.
Producers of investment goods (plant and machinery etc.) and intermediate goods (products supplied as inputs to other manufacturers) saw the strongest growth of production, recording the largest monthly gains for 19 and 23 months respectively. Output of consumer goods rose only modestly by comparison, though nonetheless registered a third successive monthly increase.
Eurozone manufacturing new orders rose by marginally more than estimated by the earlier flash reading, showing the largest monthly rise since August 2007. France and Germany reported considerably stronger increases in new orders than other countries, with growth hitting 35- and 26-month highs respectively. Only Spain, Greece and Ireland saw lower levels of new orders.
New export orders rose at a slower pace than total new orders, hampered by the strong euro, but nonetheless recording the largest increase since January of last year as manufacturers benefited from resurgent demand in many markets. The Netherlands, Germany, France and Austria all saw robust export order growth, but marked declines were seen in Spain, Italy and Greece.
Markit chief economist, Chris Williamson said: "Business conditions in the Eurozone manufacturing sector improved for the first time since May of last year, driven by accelerating growth of output and new orders and moderating job losses. With capacity now coming into line relative to order books, and further growth of production looking likely in coming months as factories restock, conditions are set to improve further. National disparities are a concern, however. In particular, surging nine-year high growth in France sits uncomfortably with ongoing weakness in Italy and Spain."
Procurement Tag - Benchmarking
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