Fears grow of global slowdown | Business
Fears about the health of the global economy have mounted after downbeat data from Europe, China and the United States fuelled concern that rampant inflation, disrupted supply chains and Russia’s invasion of Ukraine threaten a prolonged global slowdown.
The S&P Global eurozone manufacturing purchasing managers’ index fell to 55.5 last month, down from 56.5 in March and to its lowest level in 15 months. It was the third consecutive month that the figure in the survey has declined and was accompanied by a warning that the bloc had slowed to a “near standstill”.
The index of manufacturing output also slumped, from 53.1 to 50.7, its worst reading in 22 months. Any reading below 50 indicates a contraction.
Chris Williamson, S&P Global’s chief business economist,
