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German manufacturing recovers thanks to easing supply issues

A survey released on Monday revealed that while weaker demand is still weighing on sentiment, fading supply chain issues helped to mitigate the downturn in Germany’s manufacturing sector in December.

 

The manufacturing S&P Global Purchasing Managers’ Index (PMI), which represents about a fifth of the German economy, increased from 46.2 in November to 47.1 in December.

 

Even though it was the third consecutive month-over-month increase, the index is still below 50, which indicates that activity is still contracting, albeit more slowly.

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