Germany Manufacturing June PMI Preliminary 44.6... 8 Points Increase from Previous Month
[Asia Economy Reporter Ki-min Lee] Due to the impact of the novel coronavirus infection (COVID-19), Germany's manufacturing Purchasing Managers' Index (PMI), which recorded its lowest level in 10 years last April, has been steadily rising.
Market research firm IHS Markit announced on the 23rd (local time) that Germany's preliminary manufacturing PMI for June was recorded at 44.6. This is an 8-point increase from the finalized figure of 36.6 last month. Earlier, in April, Germany's manufacturing PMI stood at 34.5, marking the lowest level since the global financial crisis in 2009.
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The PMI uses 50 as the baseline; a figure above 50 indicates economic expansion, while below 50 indicates economic contraction.
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