Germany September final manufacturing PMI 56.4 vs 56.6 prelim

Author: Justin Low | Category: News

Latest data released by Markit/BME - 1 October 2020

The preliminary report can be found here. The final print here reaffirms the strong rebound in German factory activity amid a pickup in foreign demand.

However, much like the French reading, there are still risks associated with the outlook if the virus situation in the country continues to worsen in the coming weeks/months.

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Markit notes that:

"The recovery in the manufacturing sector continued with good momentum in September, with the PMI climbing unabated to its highest since mid-2018.

"Encouragingly, order books and output are rising all across the manufacturing sector, supported by a general upturn in export demand. Even investment goods producers, who have generally underperformed in the recovery up to now, enjoyed a much better month in September.

"Still, firms are under financial strain, as highlighted by another round of job cuts and the running down of stocks as they look to increase their liquidity.

"The worst of the factory job losses seem to be behind us, at least for now, with the rate of staff cuts back in line with that seen before the pandemic struck. Furthermore, as manufacturers' optimism improves, there is a greater chance of more jobs being saved."

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