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Markit Economics released its final manufacturing purchasing managers' index (PMI) for Germany on Monday. Germany's final manufacturing purchasing managers' index (PMI) fell to 52.3 in January from 53.2 in December, up from the preliminary reading of 52.1.
The index was driven by a weaker rise in production and new orders. Lower energy and raw material prices weighed on input costs.
"It's an unspectacular start to the year for German manufacturers. Although, the headline PMI signalled further growth in the sector, the pace of expansion was relatively sluggish. It's also a bit disappointing that the first reduction in selling prices for three months was not sufficient to generate a stronger increase in total new business. A source of weakness highlighted by the data was subdued demand from foreign markets," Markit economist Oliver Kolodseike said.
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