German manufacturing PMI increased in August compared to last month's level, IHS Markit reported on Friday. The Markit Manufacturing Purchasing Managers' Index (PMI) in Germany grew to 59.3 from July's five-month low of 58.1.
The largest growth was observed in new orders, which rose for the thirty-third month in a row, and output of intermediate and investment goods.
"“The PMI rose for the third time in four months in August, following a brief correction in July. At 59.3, the headline figure was the third-highest since April 2011," Trevor Balchin, senior economist at IHS Markit said. "Output and new orders increased at faster rates, while employment growth remained historically sharp."