2 Feb 2015
German manufacturing activity slows down in January
FXStreet (Mumbai) - The seasonally adjusted Markit/BME Germany Manufacturing Purchasing Managers’ Index (PMI) fell from December’s 51.2 to 50.9 in January, however it remained in expansion territory - above 50.00.
New orders rose further in January, but the rate of growth remained marginal due to weak export demand from Russian and Asian markets. Meanwhile, Input costs drop at fastest pace in five-and-a half years due to lower oil and energy prices. Manufacturers lowered their charges due to lower input costs and increased competition.
As per Oliver Kolodseike, economist at Markit and the author of the report, "January’s PMI results paint a somewhat mixed picture of the health of the German manufacturing economy. As lower oil prices are starting to feed through from the factory gate to the consumer, we should hopefully see an uplift in economic growth in coming months.”
New orders rose further in January, but the rate of growth remained marginal due to weak export demand from Russian and Asian markets. Meanwhile, Input costs drop at fastest pace in five-and-a half years due to lower oil and energy prices. Manufacturers lowered their charges due to lower input costs and increased competition.
As per Oliver Kolodseike, economist at Markit and the author of the report, "January’s PMI results paint a somewhat mixed picture of the health of the German manufacturing economy. As lower oil prices are starting to feed through from the factory gate to the consumer, we should hopefully see an uplift in economic growth in coming months.”