German Manufacturing Index Cools, But Still Shows Strength

The German PMI for March noted a continued increase in the manufacturing sector; however, it remained above the critical 50.0 mark.

The German Purchasing Managers’ Index (PMI) for March showed continued strength in the manufacturing sector, even as the overall index dropped slightly.

The report, published by the Royal Bank of Scotland, showed the index dropped from 57.2 in February to 56.9 in March, staying above the critical 50.0 mark.

Outstanding work was still on the rise, despite a slight ease from the previous month, and the backlog encouraged job creation in the sector.

The survey also pointed to a further month of higher input price rises, driven by higher raw material costs, particularly for metals.

Companies indicated the second-highest increase in charges since output price data was first collected in September 2002.

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