Germany Manufacturing PMI Remains Subdued
The HCOB Flash Germany Manufacturing PMI increased to 42.2 in April 2024 from 41.9 in March, slightly below forecasts of 42.8.
The reading continues to point to a sharp deterioration in manufacturing business conditions, with incoming orders falling the most in five months and quicker delivery times serving as further evidence of weakening demand.
On the other hand, production fell at a slower pace, job shedding eased, factory gate prices fell the most since September 2009 and optimism with respect to future output improved.
However, there are still no indications that the tentative turnaround observed in the global inventory cycle has reached Germany.