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German Manufacturing PMI Falls Slightly In December
Wednesday, January 2, 2008
The German NTC/BME Purchasing Mangers` Index for manufacturing sector dropped to 53.6 in December from 53.7 recorded in November, the latest survey results of NTC Economics showed Wednesday. Economics were looking for a reading of 53.3 in December. The average PMI reading for the fourth quarter was 53, the lowest since the third quarter of 2005.
The survey result revealed that manufacturing output growth advanced further in December after a sharp deceleration in October. However, total new order book growth slowed, while new export orders recorded a solid increase. The labor market showed further buoyancy in December.
The expansion of manufacturing output was centered on the investment goods sector. Consumer goods and intermediate goods sector also recorded gain. Meanwhile, new order growth slowed in the capital and intermediate sectors.
