Germany’s Manufacturing Hits a 4-Month High as Employment Rises to a New Record

Source: IHS Markit

Manufacturing PMI in Germany rose for the second month to reach 65.9 in July from 65.1 in June, the highest since April and third on record.

DAX is up +0.030%, EURUSD is up +0.20%.

• Manufacturing PMI was boosted by new orders, which registered the third-strongest gain on record, leading to an increase in backlogs.
• Output growth remains strong despite falling from June, with lead times the lowest in five months.
• Input and output price inflation rose at the fastest rate in history.
• Employment gained at a record rate as manufacturers added staff to match the increase in demand and capacity.