Germany PMI Manufacturing was finalized at 66.2 in April, just slightly down from March’s record high of 66.6. It’s nonetheless still the second-highest on record since 1996. Markit noted that pace of job creation accelerated as expectations hit new peak. Supply bottlenecks continued to push up costs and factory gate charges.
Phil Smith, Associate Economics Director at IHS Markit, said: “The PMI continues to send positive signals for the health of the German manufacturing sector… but supply issues remain a risk to the sector’s growth prospects.. .. Despite showing some concerns for the current supply issues, manufacturers generally maintain a strongly positive outlook for the year ahead with expectations at a record high, hinting they believe the bottlenecks to be transitory and that conditions on both the demand and supply side will get better.”
