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- German manufacturing posted a stronger performance in August following July’s slight loss of momentum
German manufacturing posted a stronger performance in August following July’s slight loss of momentum
German manufacturing posted a stronger performance in August following July's slight loss of momentum, according to the latest PMI survey data from IHS Markit and BME.
Overall operating conditions improved at a pace close to the six-year highs seen in May and June. Output, new orders and new export business all rose more sharply than in July, with the latter expanding at the fastest rate since May 2010. Suppliers remained under pressure, with lead times lengthening to the greatest extent since April 2011.
The PMI rose to 59.3 in August, from July's fivemonth low of 58.1. This was the third-highest level since April 2011, and signalled a marked overall improvement in manufacturing business conditions in the manufacturing sector of the eurozone's largest economy. The upward movement in the PMI reflected faster increases in output and new orders as well as a greater lengthening in suppliers' delivery times. The current 33-month period of overall growth is the second-longest in the 21-year survey history.
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