German Manufacturing PMI
Event Date: Wednesday, November 23, 2022
Event Time: 08:30 CET
Updated Tuesday, November 22, 2022
The manufacturing sector used to be in great shape in Germany and in the Eurozone last year. But, it has had a soft patch this year and this sector has fallen into contraction in the Eurozone, while in Germany it has fallen in recession. The flash manufacturing PMI has declined below the 50 level and the recession is getting deeper. In July, the manufacturing PMI came at 43.2 points, which is the lowest level in a very long time. It improved very slightly in August, but it fell deeper into recession in September with the PMI indicator at 41.4 points, which was revised a tad higher to 41.7 points. But, it has improved since then and last month's manufacturing PMI increased to 47.8 points, which was revised higher to 48 points later on. Coronavirus lock-downs sent this sector in a deep contraction, but it has been expanding since May and remains in really good shape. In December the PMI indicator increased further to 58.3 points, but is expected to cool off to 57.3 points. it increased back to 57.1 points in the first reading for January, while climbing to 60.7 points. It has been declining as energy prices surged and manufacturing activity has been in contraction since June, and November PMI is expected at 46.0 points. Please follow us for live coverage of this event by experienced market analysts.
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About German Manufacturing PMI
Developed by the Eurostat, the German Flash Manufacturing PMI provides a look at the conditions facing the German industrial sector. The metric is derived using a 0-100 scale. Basic interpretations include a value over 50 being viewed as positive toward the Euro and under 50 negative.A top four global economic power, the Germany relies greatly upon domestic manufacturing for economic output. With industrial production accounting for nearly 20% of aggregate GDP, the manufacture of goods is a big part of the German economy. The Flash Manufacturing PMI offers an inside view of the ongoing progress of the manufacturing sector.