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Markit Economics released its final manufacturing purchasing managers' index (PMI) for Germany on Tuesday. Germany's final manufacturing purchasing managers' index (PMI) rose to 53.3 in August from 51.8 in July, up from a preliminary reading of 53.2.
The increase was driven by a rise in new orders and employment.
"August's business survey results provide some encouraging news for Germany's goods-producing sector. The headline PMI rose to a 16-month high, fuelled by accelerated growth of both output and new orders. Moreover, we saw rising workloads feed through to notable employment gains, with the rate of job creation the strongest since January 2012," Markit economist Oliver Kolodseike said.
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