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Germany's overall manufacturing sector expanded for the fifth straight month in November, and the rate of growth exceeded initial estimate, final data from Markit Economics showed Monday.
The Markit/BME Purchasing Managers' Index came in at 52.7 in November, up from 51.7 in October. The reading signaled the strongest improvement since June 2011 and was above the initial estimate of 52.5.
The expansion was driven by a solid upturn in production and new business. A further drop in employment numbers was the main negative influence on the PMI figure during the latest survey period.
Increased production led to a rise in input purchasing during November. However, input price pressures remained muted in the latest survey period, with the rate of cost inflation dropping further below the long-run survey average.
Prices charged by manufactures increased for the second month in a row, and at the most marked pace since August 2011.
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