Germania PMI Industriale

The HCOB Flash Germany Manufacturing PMI edged up to 43.2 in November 2024, compared to October's reading and market estimates of 43. Despite the improvement, the PMI still signals a deep contraction in the manufacturing sector, as firms struggle with a lack of new orders. While the decline in factory output eased for the second consecutive month to its weakest level since June, it remained significant by historical standards. Additionally, goods producers have been cutting staff at an accelerated pace, with the report showing that several automotive companies and suppliers have recently announced major cost-cutting measures. In terms of prices, manufacturers reported deeper and slightly faster declines in both factory gate prices and purchasing costs. Nevertheless, there are signs of improvement in the outlook among German manufacturers.