Latest data released by Markit/BME - 1 April 2021
The preliminary report can be found here. No change to the initial estimates as this reaffirms a record growth in output and new orders in the German manufacturing sector, though worsening supply delays are putting further upwards pressure on prices.
Markit notes that:
"The German Manufacturing PMI marked its 25th anniversary in March with a record-high reading of 66.6, showing the goods-producing sector going from strength to strength.
"It was a record-breaking month on many fronts including new export orders, which have benefited from synchronised upturns in sales to the US and China and seen an unprecedented number of German manufacturers reporting growth.
"However, the Suez Canal blockage could not have come at a worse time, with more than three-quarters of German manufacturers already reporting increasing lead times on inputs in March, with the potential for those numbers to increase further given the backlog of containers it created and the anticipated congestion at ports in the coming days and weeks.
"We eagerly await the April flash PMI data to see the impact it will have, including on output prices, which were already rising more quickly than ever before in the series history due to a combination of acute cost pressures and an unabating upturn in demand."
