Germany PMI Manufacturing was finalized at 65.9 in July, up from June’s 65.1. The future was the third-highest since the survey began in 1996. There was survey-record increase in employment. Also, both price indices reached new record highs.
Trevor Balchin, Economics Director at IHS Markit, said: “Faster growth of new orders and employment boosted the German manufacturing sector in July… the latest survey results provided further evidence that output growth is being constrained by supply shortages….with overall demand for raw materials strengthening, input price inflation accelerated to a new survey record high. Consequently, the rate of output price inflation hit a new peak for the fifth month running.”
