Germany’s manufacturing growth decreases in November

Wednesday, 28 December 2016 14:51:57 (GMT+3)   |   Istanbul
       

Markit's Germany Manufacturing Purchasing Managers Index (PMI) was at 54.3 points in November this year, down from the 33-month high of 55 points in October. 
 
In response to increased new business, companies scaled up their production in November. However, the pace of expansion slowed from the prior month and was the least marked since May.
 
Sector data signalled that the consumer and intermediate goods sub-sectors recorded solid growth of both output and new orders. Meanwhile, investment goods manufacturers reported weaker expansions.
  
“Today’s survey results highlight that Germany’s manufacturing sector remained in good shape in November. Although the PMI dipped slightly from October’s 33-month high, the average reading over the fourth quarter so far was in fact the best since early 2014, thereby suggesting that the sector should have a positive contribution to GDP growth at the end of the year,” stated Oliver Kolodseike, economist at Markit.

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