Tuesday, July 23, 2024

Germany’s Manufacturing PMI revised slightly lower to 39.6 in September

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The HCOB Germany Manufacturing PMI was revised slightly lower to 39.6 in September from a preliminary of 39.8, continuing to point to a fifteenth straight month of contraction in the manufacturing sector. The result slightly missed consensus figure of 39.8.

Weaker demand across the sector was due to several factors, including customer uncertainty, widespread efforts to reduce stocks and weakness in construction activity.

Meanwhile, September also saw further declines in both input costs and output charges.

ETFs: (EWG), (DBGR), (FGM), (DXGE)

Currency: (EUR:USD)

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