- Analytics
- News and Tools
- Market News
- German manufacturing sector remains in contraction in June - IHS Markit
German manufacturing sector remains in contraction in June - IHS Markit
According to the report from IHS Markit, Germany's manufacturing sector contracted further in June. Weaker external demand and a slowdown in the auto industry continued to weigh on order books, which in turn led to declines in both output and employment. Sub sector performances continued to vary, however, with growth in consumer goods contrasting with downturns in the intermediate and investment goods categories. Elsewhere, input prices fell at a faster rate in June, dragged lower by a further reduction in buying activity and associated destocking efforts. Output expectations meanwhile turned positive for the first time in nine months, albeit remaining subdued by historical standards.
The headline Germany Manufacturing PMI showed a deterioration in overall business conditions for the sixth month in a row in June. At 45.0, up from 44.3 in May, the index was at a four-month high, but still well below the neutral 50.0 mark and close to its lowest since 2012. The slight uptick in the PMI mainly reflected the new orders component, which showed the rate of decline easing for the third month in a row in June (albeit still running at a marked pace overall). A key weakness remained export sales, where there were reports of lower demand from Asia in particular.
© 2000-2024. All rights reserved.
This site is managed by Teletrade D.J. LLC 2351 LLC 2022 (Euro House, Richmond Hill Road, Kingstown, VC0100, St. Vincent and the Grenadines).
The information on this website is for informational purposes only and does not constitute any investment advice.
The company does not serve or provide services to customers who are residents of the US, Canada, Iran, The Democratic People's Republic of Korea, Yemen and FATF blacklisted countries.
Making transactions on financial markets with marginal financial instruments opens up wide possibilities and allows investors who are willing to take risks to earn high profits, carrying a potentially high risk of losses at the same time. Therefore you should responsibly approach the issue of choosing the appropriate investment strategy, taking the available resources into account, before starting trading.
Use of the information: full or partial use of materials from this website must always be referenced to TeleTrade as the source of information. Use of the materials on the Internet must be accompanied by a hyperlink to teletrade.org. Automatic import of materials and information from this website is prohibited.
Please contact our PR department if you have any questions or need assistance at pr@teletrade.global.
Bank transfers
