Released: 30 November 2021
Global Price Inflation Rose Rapidly in November
The Global Sales Managers Index, bringing together data for the three great economic growth drivers of economic activity, shows growth and confidence clearly returning - slowly.
But, alongside the modest signs of global growth shown by the November data, comes a far less welcome indication of rapidly rising Price Inflation. The Prices Index continues to show an increasing level of inflation in all three of the worlds most significant economies, reflecting another very significant jump in prices of many kinds in November. Serious supply chain problems provide one obvious reason for the rapid price rises, and the impact of governments everywhere opening the money taps to attempt to preserve economic activity in the face of Covid, provide another.
A second negative is shown by the Staffing Index which came in at a lowly 51.3 reading, suggesting that jobs growth globally has a long way to go to return to pre Covid "normal" levels.
Overall the Sales Managers Indexes reflect increasingly optimistic views about the pre-Christmas period, but also illustrate the great uncertainty remaining over the likely course of price inflation in 2022.
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