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German PMI at eight-month high in December as downturn in new orders continues to ease
Germany's manufacturing sector ended 2023 still firmly in contraction territory, albeit with signs that the worst of the downturn was behind it. December's HCOB PMI® survey conducted by S&P Global signalled solid and slightly accelerated decreases in both output and employment. However, the survey's more forward-looking indicators remained on an upward trajectory, with new orders dropping at the slowest rate for eight months and business expectations turning positive for the first time since last April. On the price front, manufacturers continued to reduce factory gate charges due to competitive pressures and ... (full story)