German manufacturing holds at six-and-a-half year high
Source - SMW
Germany's manufacturing sector continued to grow strongly at the start of the fourth quarter.
Production and new orders rose sharply in October, and goods producers upped the rate of job creation to the fastest since April 2011 in order to support the higher level of activity.
Supply chain pressures further intensified, however, with the incidence of delivery delays among the most widespread on record and manufacturers facing sharply rising purchase prices.
The headline IHS Markit/BME Germany Manufacturing PMI was 60.6, unchanged on September's 77-month high.
The intermediate and investment goods sectors were again the best performers, with the consumer goods category continuing to lag behind.
The headline PMI was supported by stronger growth in employment and input stocks and deteriorating supplier delivery times. This was offset by slightly slower rates of growth in both output and new orders than the month before.
The latest increases were still among the strongest seen over the past six-and-a-half years, partly driven by external demand. New export orders rose sharply again in October, and at the second-fastest rate since May 2010.