Economic Buzz: Germany Manufacturing PMI At 49.1 In August

1 Sep 2022 , 03:39 PM

Germanys manufacturing sector remained in contraction in August, latest PMI survey data showed, with a sustained downturn in new orders serving to weigh on production levels and slow the rate of job creation at factories. Rising stock levels remained a prominent feature of the survey. The headline seasonally adjusted S&P Global / BME Germany Manufacturing Purchasing Managers Index? (PMI?) – a single figure measure of sector performance derived from measures of new orders, output, employment, suppliers delivery times and stocks of purchases – registered 49.1 in August. Down slightly from 49.3 in July, this was the second successive reading in sub-50 contraction territory following a two-year period of growth. A sharp decline in new orders continued to be seen across the German manufacturing sector in August. The rate of contraction eased only slightly since July, when it was the quickest since May 2020.Powered by Commodity Insights