PMI: Output falls for the first time since Feb 2021 outside of FR/DE

Cost pressures re-accelerate on energy prices but notably, output outside of Germany and France "fell for the first time since February 2021, as a third successive monthly drop in manufacturing production was accompanied by the first fall in service sector activity since January."

Other highlights from the press release:

• "While easing raw material supply constraints helped alleviate some inflationary pressures, rising energy prices were widely blamed on a renewed acceleration of input cost inflation across both manufacturing and services. The overall increase in costs was the steepest since June."
• "Higher cost pressures meant that, after four months of cooling, the rate of increase of prices charged for goods and services also accelerated to the sharpest since June as firms sought to protect margins."