Economic Buzz: Germany S&P Global PMI Composite Index At 46.4 In November

23 Nov 2022 , 03:18 PM

Germanys private sector economy remained firmly in contraction territory in November, latest flash PMI data from S&P Global showed. However, the rate of decline in business activity eased and firms were less pessimistic about the year-ahead outlook. Demand continued to come under pressure from strong inflation, though even on the price front there were some encouraging signs as firms reported the slowest increase in costs for a year-and-a-half and a weaker rise in prices charged for goods and services. Despite falling workplace activity, labour market conditions remained relatively robust. The headline S&P Global Flash Germany PMI Composite Output Index remained below the neutral 50.0 threshold that separates growth from contraction for a fifth straight month in November, registering 46.4. However, this was up from Octobers 45.1 and the highest reading since August. Inflows of new business fell at a sharp rate that was only slightly slower than Octobers near two-and-a-half year record. There were further signs of an easing of pipeline price pressures, as firms reported the weakest rise in input costs since May 2021. With businesses continuing to pass through higher costs to customers, November saw a further steep rise in average prices charged for goods and services. Powered by Commodity Insights