Germany's manufacturing activity improves in May - Breaking The News

Germany's manufacturing activity improves in May

3 June

1 min read

EPA-EFE/ANNA SZILAGYI

Germany's manufacturing sector improved slightly in May, with the Purchasing Managers' Index (PMI) hitting a new four-month high of 45.4, S&P Global and Hamburg Commercial Bank (HCOB) said in their report released on Monday.

The Manufacturing PMI Output Index rose from April's 45.4 to 48.9, the figure's 13-month high. The document attributed the rise in the headline index to a slower decline in new orders, hitting the weakest rate in two years.

"Finally, there is light at the end of the tunnel. With the global manufacturing environment having already improved in recent months, the spark now seems to be catching on with German producers. The output index made a significant leap towards the 50 no-change mark in May, indicating that companies have barely reduced their production on average. This is a stark contrast to the previous twelve months, which saw consistent and substantial declines in output," HCOB Chief Economist Dr. Cyrus de la Rubia noted.

data manufacturing pmi

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