A round up of the January 2018 Markit manufacturing PMI’s 1 February 2018
Just a review of the data.
- Eurozone Markit manufacturing PMI final 59.6 vs 59.6 exp. Flash 59.6. Dec 2017 60.6
- France Markit manufacturing PMI final Jan 2018 58.4 vs 58.1 exp. Flash 58.1. Dec 2017 58.8
- Germany Markit manufacturing PMI Jan 2018 61.1 vs 61.2 exp. Flash 61.2. Dec 2017 63.3
- Italy Markit manufacturing PMI final 59.0 vs 57.5 exp. Dec 57.4. Highest in 7 years
- Spain Markit manufacturing PMI 55.2 vs 55.7 exp. Dec 55.8
Looking at the main Eurozone number, the message on inflation is that it’s still running hot.
Inflationary pressures picked up at the start of 2018, with both output charges and input prices rising at faster rates. Output price inflation accelerated to an 80-month high. Purchasing costs rose to the greatest extent in over six-and-a-half years, reflecting higher commodity prices (including oil) and greater pricing power at vendors. The latter factor was the result of shortages developing for some inputs as demand outstripped supply. This also led to one of the sharpest lengthening of supplier lead times on record.
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