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Chairman Powell


Resumes Its Downtrend

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  • Focus on inflation continues as the Eurozone PMI notes that "survey-record price increases were meanwhile reported as firms sought to pass an unprecedented rise in costs on to customers." Other highlights from the press release:
  • "Shortages were meanwhile once again seen as the key driver of higher prices for many goods and services in October, leading to a survey record increase in firms' input costs. An unprecedented input cost increase was recorded in manufacturing while service sector costs rose at the sharpest rate since September 2000."
  • "Selling price inflation likewise accelerated as firms passed higher costs on to customers, reaching the fastest in almost two decades of comparable survey history both in manufacturing and services."
  • "Future sentiment moderated for a fourth consecutive month to the lowest since February. Although the outlook brightened slightly in services, optimism in manufacturing hit the lowest for a year."