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12/1/2021, 9:56 AM (Source: TeleTrader)
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Germany manufacturing growth slows in November

The growth in the German manufacturing sector slowed in November compared to the month before, a release by IHS Markit showed on Wednesday. The IHS Markit/BME Germany Manufacturing Purchasing Managers Index (PMI) stood at 57.4, marking a decrease from 57.8 recorded in October.

"November data signaled another month of constrained manufacturing production levels across Germany, as firms continued to have difficulty sourcing critical inputs and keeping up with demand," Phil Smith, associate economics director at IHS Markit, stated. He noted that, unlike production which remains subdued, factory gate prices skyrocketed leading to an all-time high rate of charge inflation.

"Manufacturing expectations in November withstood the continued surge in prices, and even the fourth wave of COVID-19 infections, to move to a three-month high. The emergence of the Omicron variant poses more uncertainties, however, including a risk of fresh supply-chain disruption," Smith added.

Baha Breaking News (BBN) / NP