TELETRADER News
2/1, 9:56 AM (Source: TeleTrader)
more TeleTrader news

Germany's manufacturing PMI at 59.8 in January

Germany's manufacturing Purchasing Managers' Index (PMI) stood at 59.8 in January, higher than the reading of 57.4 for December and November, as reported by IHS Markit on Tuesday.

According to the report, the data show an encouraging start to 2022 for the German manufacturing sector, despite "the supply chains remained stretched." This positive performance was mirrored by an improvement in the confidence of goods producers towards the one-year-ahead growth outlook.

"The German manufacturing sector started 2022 on the front foot, with the PMI showing a long-awaited upturn in performance following the slowdown throughout much of the second half of last year," IHS Markit Economics Associate Director Phil Smith commented on the report. "Strong optimism has returned to the manufacturing sector, reflecting hopes that we'll see further improvements in demand and in the supply situation as 2022 progresses."

Baha Breaking News (BBN) / JG