Supply Chain Challenges Persist
The survey highlighted further supply chain difficulties. The delivery times index edged down to -3.2, indicating slightly shorter delivery times. However, the supply availability index fell five points to -7.5, showing a deterioration in the availability of necessary inputs. These challenges suggest that firms are facing a tougher environment for sourcing materials, adding another layer of pressure to their operations.
Labor Market and Price Increases
Despite the overall slowdown in business activity, the labor market showed unexpected improvement. The number of employees index rose ten points to 4.1, marking its first positive reading in a year. Additionally, the average workweek index inched up to 4.7, indicating small increases in both employment and hours worked. Input and selling prices saw modest increases, with the prices paid index rising to…
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