German manufacturing PMI slightly revised upwards

The HCOB German manufacturing PMI for August 2024 was revised slightly upwards from the preliminary value of 42.1 to 42.4.

However, this is a decrease from 43.2 in July, indicating a continued deepening recession in the manufacturing sector.

New orders, purchasing activity, and employment all declined sharply.

In addition, there are signs that the decline in prices in the manufacturing sector over the past year is nearing its end.Indicating that the end of the decline in prices in the manufacturing sector is imminent.I saw it too.

The cost in August hardly changed, but the average factory shipment price showed the smallest monthly decline since the current series of discounts began.

Many companies cited the increase in trucking costs as the reason.

On the other hand, manufacturing producers are not optimistic about the growth outlook for next year.

Source: S&P Global