Europe’s industrial recession worsens amid declining demand

Europe’s industrial recession deepened in September 2024, driven by declining demand, high energy costs, and increased competitive pressures from China, according to the GEP Global Supply Chain Volatility Index.

The index for Europe dropped to a nine-month low of -0.74, down from -0.53 in August, signaling further strain on the region’s manufacturing sector.

Jagadish Turimella, president of GEP, highlighted concerns over supply chain disruptions and the impact of global uncertainties, advising manufacturers to focus on agility and resilience. Germany remains a major factor in the downturn, while the UK showed slight improvement with its index rising to -0.12, reflecting some resistance to global economic challenges.

Attribution: S&P Global

Subediting: M. S. Salama