Fading Supply Problems Ease Downturn in German Manufacturing: PMI
BERLIN—Fading supply chain problems helped ease the downturn in Germany’s manufacturing sector in December, although weaker demand continues to weigh on sentiment, a survey showed on Monday.
S&P Global’s final Purchasing Managers’ Index (PMI) for manufacturing, which accounts for about a fifth of Germany’s economy, rose to 47.1 from November’s 46.2.
While it was the third month-on-month increase in a row, the index is still below the 50 mark, meaning activity continues to shrink, albeit at a slower pace.
A Reuters poll of analysts had pointed to a December reading of 47.4, in line with an earlier flash reading….