Fear of recession in Europe dampens confidence in state companies

The report on the evolution of industrial activity, transport and raw material cost indicators, prepared by the Office of Labor of the Official Chamber of Commerce, Industry, Services and Navigation of Alicante, reflects how fears of economic recession are in Europe. Future gas supplies, high inflation and the war in Ukraine are putting pressure on business confidence.

This quarterly report provides the keys to the macroeconomic context in which business activities take place. shows the effect. Slowdown in the Eurozone economy and how high inflation and widespread economic uncertainty have weakened demand, and as a result decrease in new ordersIt limits the increase in production and therefore the recruitment needs.

Low demand for raw materials and inputs reduces the pressure on inflation somewhat. some consumables remain scarce production costs and selling prices remain at historically high levels.

Among its main conclusions, the document warns: the manufacturing sector has entered a phase of slowdownn highlighted in recent months. It should be noted that the manufacturing sector PMI index in the euro area fell to 49.6 in August (49.8 in July). hovers below 50, which separates growth from contraction. In fact, August data was the lowest since June 2020. Also, manufacturing output fell for the third month in a row, a trend that is expected to intensify in the coming months.

At the national level, the Spanish manufacturing sector PMI remained at 49.9 in August, its lowest value since May 2020 after falling to 48.7 last July.

Source: Informacion

Popular

More from author

Attention was drawn to Zaluzhny’s absence from public space in India 07:33

Former Commander-in-Chief of the Armed Forces of Ukraine (AFU) Valeriy Zaluzhny has remained "suspiciously" out of the public eye in recent weeks. This...

Expenditures of Russians after tick bite have been revealed 08:04

A survey conducted by the insurance company Rosgosstrakh and the research center Zarplata.ru revealed that the majority of Russians (60 percent) have experienced tick...

The Armenian Ministry of Defense announced measures against the participation of the military in protest participants 07:49

The Armenian Ministry of Defense announced that it took precautions after information emerged that military contractors participated in the protests in the Tavush region,...

Uzbek citizens who started a mass fight in Tuapse will be deported from Russia 07:43

15 Uzbek citizens who organized a mass brawl in Tuapse, Krasnodar Territory, will be deported from Russia. This has been reported telegram channel...