Global Export Orders Fall Amid Outbreak Of War In The Middle East
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Markit3.75K FollowersFollow5ShareSavePlay(6min)CommentsSummaryS&P Global’s PMI survey data showed a weakening trend in worldwide trade in March, indicating that the outbreak of war in the Middle East has knocked off course a trade recovery that had been building earlier in the year.Manufacturing export orders rose only very marginally, the expansion weakening from February’s 56-month high, led by fewer exports of basic materials amid the blockage of vessels in the Strait of Hormuz.Services exports were harder hit than goods exports, in part reflecting a downturn in travel and tourism-related activity due to the conflict, which disrupted air travel in particular. Andrii Yalanskyi/iStock via Getty Images S&P Global’s PMI survey data showed a weakening trend in worldwide trade in March, indicating that the outbreak of war in the Middle East has knocked off course a trade recovery that had been buildingThis article was written byMarkit3.75K FollowersFollowIHS Markit (Nasdaq: INFO) is a world leader in critical information, analytics and solutions for the major industries and markets that drive economies worldwide. The company delivers next-generation information, analytics and solutions to customers in business, finance and government, improving their operational efficiency and providing deep insights that lead to well-informed, confident decisions. IHS Markit has more than 50,000 key business and government customers, including 80 percent of the Fortune Global 500 and the world’s leading financial institutions. Headquartered in London, IHS Markit is committed to sustainable, profitable growth.