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    Despite Omicron, future business expectations remain almost unchanged: Survey

    The effects of the Omicron variant remain highly uncertain, but concerns about the disruption caused by the increased number of cases are largely due to improved supply conditions and rising expectations that the disruption will be mild compared to previous waves. The offsets have left little change in future business expectations, said London-based IHS Markit.

    According to IHS Markit, the December 2021 JPMorgan Global Manufacturing Purchase Manager Index (PMI) readings masked improvements in various sub-indexes. Compiled the index.

    JP Morgan’s global manufacturing PMI stabilized at 54.2 in December for the third straight month. Faced with the COVID-19 Omicron variant, while showing resilience encouraged by the overall health of the manufacturing economy, the sub-index of the study, which includes some of the key components of PMI itself, is even better. Brought the news.

    The effects of the Omicron variant remain highly uncertain, but concerns about the disruption caused by the increased number of cases are largely due to improved supply conditions and rising expectations that the disruption will be mild compared to previous waves. The offsets have left little change in future business expectations, said London-based IHS Markit.

    In December, factory production growth accelerated at its fastest rate since July, almost in line with the first increase in new orders since February last year. In recent months, production growth has been unprecedentedly behind demand growth, except for the short period of 2009, as factories have been unable to produce everything customers demand.12 Production and demand growth recovered in the month.

    The largest shortage of production for demand was recorded in Italy, followed by the United States, Australia and South Korea. France, Vietnam, Taiwan, the United Kingdom, Canada, the Philippines and Germany all reported production deficits for their orders. However, the US production deficit was the lowest since February, and the eurozone deficit was the lowest overall for three months, IHS Markit said.

    In contrast, Thailand, Indonesia, China, Spain, Japan, Russia and some other economies of Central and Eastern Europe have seen surplus production compared to new orders. The production surplus was the largest since August 2020 in Asia as a whole.

    The rate of production growth (and reduction in production shortages) in December was primarily due to companies reporting less production constraints due to staff or raw material shortages.

    The key to alleviating production constraints was to ease supplier delays in December. Although running at a level far beyond what was seen before the pandemic, the average supplier delivery extension was eased for the second straight month in December, the lowest record since March.

    In many cases, suppliers were able to increase their ability to meet the demand for input from manufacturers, but problems continued when shipping these products to the factory, with shipping delays continuing at about eight times the long-term average. There are a number of companies reporting that they are. Continuing concerns that remain unresolved-and unprecedented-point to logistic issues. But even these delays in shipment showed signs of easing in December.

    Supplier delivery times continued to be the most noticeably longer in the US and Europe, but significantly shorter than in the previous month. Delivery extensions were the shortest: 7 months in the US, 10 months in the euro area and 12 months in the UK. Nonetheless, the latter saw the longest lead-time extension of any country other than the Netherlands, partly reflecting additional Brexit-related issues.

    Much less delays were recorded in Asia, especially in China, where supply chain disruptions were particularly mild.

    Continued stress on supply chains and shipping times was exacerbated by inventory building in December, especially as manufacturers continued to purchase additional inputs to protect future production.

    As supply chain pressure cools, manufacturers’ input cost growth has eased.

    Fiber2Fashion News Desk (DS)

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    Despite Omicron, future business expectations remain almost unchanged: Survey

    Source link Despite Omicron, future business expectations remain almost unchanged: Survey

    The post Despite Omicron, future business expectations remain almost unchanged: Survey appeared first on Eminetra.

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