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Saturday, June 19, 2021

Germany April flash manufacturing PMI 66.4 vs 65.8 expected

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Latest data released by Markit/BME – 23 April 2021

  • Prior 66.6
  • Services PMI 50.1 vs 51.0 expected
  • Prior 51.5
  • Composite PMI 56.0 vs 57.0 expected
  • Prior 57.3

All readings reflect two-month lows as the German economy loses some momentum in April, with services activity seen stalling. Supply shortages are cited as a reason for the light pullback in manufacturing production but output is still at healthy levels for now.

“The third wave of the pandemic has stifled
progress in Germany’s service sector, with April’s
flash PMI data showing activity close to stalling
following the return to growth at the end of the first
quarter. The country’s manufacturing sector
remains on a strong footing, though even here the
data show growth being held back by supply
problems.

“The imbalance of demand and supply across
manufacturing supply chains continues to drive up
businesses’ costs, which are now rising at the
fastest rate for more than a decade. However, while
factory gate prices are increasing rapidly in line with
strong demand for goods, services firms remain
more cautious with their pricing, which somewhat
limits the spillover to overall consumer prices.
“There was good news on the employment front in
April, as efforts by manufacturers in particular to
expand capacity drove the fastest increase in
private sector workforce numbers for two-and-a half
years.”



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