The European Automobiles & Auto Parts sector experienced a sharp decline in output in September.
Source: IHS Markit.
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Autos production dropped for the first time since May 2020, marking an end of consistent strong expansion. New orders also fell slower than the rate of production, leading to another sharp increase in backlogs of work.
17 out of 20 sectors posted growth of output in September, the lowest total since March. 11 recorded a slower pace of expansion than in August.
Technology Equipment surpassed the growth rankings for the third time in four months and has been in the top two rankings starting February.
Transportation was the only European sector to post lower activity in September, which recorded a decline for the first time since March.
Machinery & Equipment posted the fastest pace of input price inflation of all sectors in September, followed by Automobiles & Auto Parts, Technology Equipment, Household & Personal Use Products and Chemicals.