German Private Sector Activity Slows to Eight-Month Low

Source: IHS Markit

Business activity of the German private sector slowed to an eight-month low in October, as factory production was held back by input shortages and a decline in demand. EWG is up 0.82%

• The Flash Germany PMI Composite Output Index fell to 52.0 in October, the lowest in eight months after September’s 55.5.
• Services activity slipped to a six-month low of 52.4 from 56.2, while manufacturing fell to a 16-month low of 51.1 from 54.2.
• Manufacturing PMI stood at 58.2, the lowest in nine months after September’s 58.4.
• Factory production was dragged by lower input and the lower demand from the automotive sector.
• New orders showed a lower increase in eight months, as input costs and output charges both posted faster increases.
• Inflation for goods and services posted the biggest climb since September 2022, with both seeing unprecedented increases in output prices.