German manufacturing PMI continues decline in October - Breaking The News

German manufacturing PMI continues decline in October

2 November

1 min read

EPA-EFE/FILIP SINGER

German Manufacturing Purchasing Managers’ Index (PMI) slipped further in the contraction territory in October, to land at 45.1, S&P Global shared in its report on Wednesday. The reading was below the neutral 50, and fell from September's 47.8.

The figure was the lowest "since the initial COVID-19 wave in early-2020," with the drop caused by "faster declines in both output and new orders," it was noted in the report.

"October's PMI showed business conditions across the manufacturing sector becoming more and more difficult, with no quick turnaround in sight," Economics Associate Director at S&P Global Market Intelligence Phil Smith commented. He added that "manufacturers are gravely concerned about the outlook for the next 12 months, with expectations having fallen to their lowest since the initial COVID wave."

data manufacturing pmi

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