Germany Manufacturing PMI in June at 45.2... Up 8.6 Points from Previous Month

[Asia Economy Reporter Minwoo Lee] The German manufacturing Purchasing Managers' Index (PMI), which hit a 10-year low last April due to the economic slowdown caused by the novel coronavirus disease (COVID-19), has recovered to the level seen in March.

Market research firm IHS Markit announced on the 1st (local time) that Germany's finalized manufacturing PMI for June was recorded at 45.2. This is 8.6 points higher than the previous finalized figure of 36.6. It is also 0.6 points higher than the earlier forecast of 44.6. This figure is close to the 45.3 recorded in March, before the full impact of COVID-19 expanded. Previously, in April, Germany's manufacturing PMI was 34.5, the lowest since the global financial crisis in 2009.

Meanwhile, the PMI is based on 50, with values above indicating economic expansion and values below indicating economic contraction.

This content was produced with the assistance of AI translation services.