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Europe’s Factory Backlog Hits Record on Global Supply Squeeze

  • Manufacturing PMI slipped to 61.4 in August from 62.8 in July
  • Italy, Spain are catching up as momentum in Germany slows
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Explain This: Gridlock in Global Supply Chains

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European factories saw unfilled orders rise to an unprecedented level in August as companies struggled to meet demand amid widespread bottlenecks in the global supply chain.