(IHS Markit) The output in the European automobiles and auto parts segment dropped steeply in September for the first time since May last year amid a sharp rise in work backlogs.
Fig: Europe Auto Sector PMI Business Activity Index
European sector PMI data shows that new orders dropped as suppliers stretched their delivery times.
17 of the 20 sectors recorded growth, the lowest total since March. Eleven of the sectors had a slower growth compared to the August levels.
The transportation sector posted a decline in activity for the first time since March.
Technology, software and services, financial, media, and food and beverages were the only sectors that registered faster growth.
The fastest rate of input price inflation was recorded in the machinery and equipment sector. In contrast, the media, pharmaceutical, and real estate sectors had a record rate of input price inflation.
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