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Eurozone Economy Now in Technical Recession

Supply Chain Matters

Besides Germany , Greece , Lithuania , Malta , Ireland and the Netherlands experienced quarter on quarter GDP declines. Industry supply chain management and integrated business planning teams need to be diligent in their planning of resources and global capacity. pharmaceutical companies cutting back on production.

Ireland 52
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Global PMI Levels in August Remain Sluggish

Supply Chain Matters

The top producing nations by notion of highest PMI levels were noted as India, Indonesia, Myanmar, Greece and Russia. The August data indicated that Greece and Ireland were the only two countries to record production improvements during August. The inventories index decreased 2.1 Suppliers continue to have capacity.

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Global Manufacturing Activity Levels Continue to Stabilize in March and Q1-2023

Supply Chain Matters

However, we discern some added signs excess inventories and of production sourcing shifts. Further concerning was that the volume of warehouse finished goods inventories rose to the greatest extent in four months. Counties reaching PMI new highs were noted as Greece and Spain with Italy having expansion level activity levels in March.

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September and Q3 Global PMI Levels Remain in Contraction

Supply Chain Matters

Reportedly, destocking activities increased with finished product and raw materials inventories decreasing by the end of the quarter. Reportedly, with the exception of Greece , all other EU countries registered PMI declines, with Germany and Austria having the fastest rates of production declines. Suppliers continue to have capacity.

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November Global PMI Reporting Reflects Some Stabilization

Supply Chain Matters

A continued subdued product demand environment and added caution reportedly led to a decline in overall purchasing activity, lower levels of inventory and improved supplier delivery times. Italy’s manufacturing sector reportedly intensified while Greece and Ireland logged manufacturing growth in November.

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November 2022 PMI Indices Point to Further Global Wide Production Contraction

Supply Chain Matters

There are additional signs of a global glut in overall inventory levels, yet selective component shortages remain for certain industries. The decline in output was accompanied by a tick down in new orders as rising inventories have put the brakes on production.”. Global Wide Production Activity.

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Global Production Activity Levels Unchanged In May But Provide Added Warning Signs

Supply Chain Matters

That could signal even more added inventory exposures. Reportedly Greece was the only member state to register an improvement in operating conditions. The report indicated that the May number “ signalled a further decline in the health of the eurozone manufacturing sector, and one that was the steepest in three years.”