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7/1/2021, 9:57 AM (Source: TeleTrader)
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Germany's manufacturing PMI up to 65.1 in June

Germany's manufacturing sector observed a slight improvement in comparison to the previous month, with the Manufacturing Purchasing Manager's Index (PMI) coming in at 65.1, beating expectations, IHS Markit and BME unveiled in their report published on Thursday.

The report highlighted expansions in output and new orders for the first time in three months. However, it also warned of supply shortages, caused by delays in the receipts of input, growth in backlogs of work, and the record rise of the rate of factory gate price inflation.

"Output growth has regained some momentum after back-to-back slowdowns in April and May, the pace of factory job creation has continued to pick up speed, and goods producers' expectations have ticked up to a new record high," Phil Smith, Associate Economics Director at IHS Markit, stated. "However, demand-supply imbalances are still widespread, and it will take time for them to be fully resolved."

Baha Breaking News (BBN) / JR