(Reuters) – Germany’s manufacturing contraction accelerated in April to its fastest pace in nearly three years, although companies increased output slightly as supply chain problems eased. supply.
The sector’s index fell to 44.5 from 44.7 in March, which marked the lowest since May 2020, the final results of S&P Global’s surveys of purchasing managers showed on Tuesday.
The first estimate had given it at 44.0.
An index measuring production rose 0.2 points from March to 50.7, but new orders fell, albeit at a slower pace.
“Weak demand…doesn’t mean at all that an output slump is imminent,” said Cyrus de la Rubia, chief economist at Hamburg Commercial Bank.
“Weak demand, combined with a well-filled order book, has positive effects for companies in the short term. As the price sub-indices show, companies seem to be able to increase their profit margins .”
(Rachel More, Laetitia Volga, edited by Jean-Stéphane Brosse)
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