Economic Buzz: Germany Manufacturing PMI Worsens In September

3 Oct 2022 , 03:11 PM

The health of Germanys manufacturing sector took a further turn for the worse in September, latest PMI? survey data showed, with the downturn in new orders deepening and soaring energy prices driving up the rate of input cost inflation. 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 – sank deeper into sub-50 contraction territory in September, falling from Augusts 49.1 to 47.8. This was its lowest reading since June 2020. Driving the decline in the headline PMI was a faster fall in new orders. September saw inflows of new work at German manufacturers decrease for the sixth month in a row and to the greatest extent since May 2020. Powered by Commodity Insights