The latest reading was mostly driven by steeper increases in output and new orders, while overall vendor performance deteriorated to the greatest extent in the series amid significant raw material shortages and transportation issues.
Subsequently, these setbacks fueled the fastest hike in input prices since mid-2001, which far outpaced the rise in output charges, and further constraints on production capacity led to companies expanding employers at the quickest pace since February 2018.
Considering storage capacity, the stock of purchases expanded the most in three years, while post-production inventories continued to dwindle. Finally, output expectations among goods producers improved to a four-month high amid hopes of an end to the COVID-19 pandemic and a sustained rise in client demand.
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