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4 May 2015
German manufacturing PMI rises more than expected in April
FXStreet (Mumbai) - The seasonally adjusted final Markit/BME Germany Manufacturing Purchasing Managers’ Index came-in at 52.1 in April, beating the estimate of 51.9. However, the index eased from the 11-month high of 52.8 in March.
New order growth slowed to a moderate pace in April from the 11-month high in March. New export business also increased at a slower pace. The rate of job creation accelerated since March and was the strongest in 2015 so far.
Input costs faced by German manufacturers increased for the first time in 15 months during April, which led to a rise in factory gate prices for second consecutive month.
Oliver Kolodseike, economist at Markit and author of the report, “Germany’s manufacturing sector shifted down a gear in April, with the headline PMI falling slightly since March. Nevertheless, the index reading was still the second-best in nine months and indicative of modest growth in the sector. “The weak euro meanwhile continued to have some adverse effects on German manufacturers. On the one hand, the depreciation of the currency boosted export sales by making German products cheaper for clients outside the Eurozone. On the other hand, however, it increased the costs for some imported raw materials and other products, resulting in the first rise in input costs for 15 months.”
New order growth slowed to a moderate pace in April from the 11-month high in March. New export business also increased at a slower pace. The rate of job creation accelerated since March and was the strongest in 2015 so far.
Input costs faced by German manufacturers increased for the first time in 15 months during April, which led to a rise in factory gate prices for second consecutive month.
Oliver Kolodseike, economist at Markit and author of the report, “Germany’s manufacturing sector shifted down a gear in April, with the headline PMI falling slightly since March. Nevertheless, the index reading was still the second-best in nine months and indicative of modest growth in the sector. “The weak euro meanwhile continued to have some adverse effects on German manufacturers. On the one hand, the depreciation of the currency boosted export sales by making German products cheaper for clients outside the Eurozone. On the other hand, however, it increased the costs for some imported raw materials and other products, resulting in the first rise in input costs for 15 months.”