Germany October Manufacturing PMI 45.1... Lowest Level in Over 2 Years
[Asia Economy Reporter Jeong Hyunjin] The final October Manufacturing Purchasing Managers' Index (PMI) for Germany, the largest economy in Europe, dropped to 45.1, down 0.6 points from the preliminary figure. It fell 2.7 points compared to the previous month.
On the 2nd (local time), according to Investing.com and others, S&P Global announced that Germany's final manufacturing PMI for October declined from 47.8 in the previous month and the preliminary figure of 45.7 announced last month. This is the lowest level in over two years since June 2020 (36.6).
A PMI below 50 indicates a contraction phase in the economy.
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Germany's manufacturing PMI has been on a downward trend since February. Since July, it has remained below the 50 mark.
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