Markit's Germany Manufacturing Purchasing Managers Index (PMI) was at 53.8 points in July this year, down from June’s 54.5 points.
“Today’s survey results highlight ongoing steady growth in Germany’s goods-producing sector at the start of the third quarter. Although the headline PMI dropped slightly since June, the underlying growth fundamentals remain strong,” stated Oliver Kolodseike, economist at Markit. Mr. Kolodseike also stated, “In the detail, production volumes grew at the fastest pace in over two years, fuelled by a combination of increased demand and the processing of backlogs. New business growth remained solid and manufacturers were encouraged to further raise their workforce numbers, partly in an attempt to raise capacity.”