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- The German manufacturing sector gained momentum mid-way through the second quarter
The German manufacturing sector gained momentum mid-way through the second quarter
The German manufacturing sector gained momentum mid-way through the second quarter, according the latest PMI survey data from IHS Markit and BME. Overall operating conditions improved at the strongest pace in over six years as output, new orders and employment all expanded at faster rates. Notably, new export business increased at the sharpest clip in seven years. Meanwhile, input prices rose at the slowest pace in six months, albeit one that remained historically sharp overall.
The PMI resumed its upward trajectory in May, rising for the fifth time in six months to 59.5 from April's 58.2. This signalled the strongest overall improvement in manufacturing business conditions in Germany since April 2011. The upward movement in the PMI reflected stronger growth rates for output, new orders and employment, as well as a more substantial lengthening of suppliers' delivery times. The current two-and-a-half year period of overall growth in the goods-producing sector is the second-longest in the 21-year survey history.
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