The index of the Germany’s manufacturing PMI fell almost two points in May, standing at 64.4 from a record high of 66.2 in April. Despite the decline, the result improves market expectations, which expected 64 points.
Although today’s is the lowest result in the last three months, the indicator continues to be solid, remaining above 60 points for the fourth consecutive month.
According to IHS Markit, production rates and new order growth softened from recent highs. Almost 79% of German manufacturers reported longer delivery times. Production cost inflation shot up to a record high.
On the other hand, Germany has released its unemployment data for May, showing that there were 15,000 fewer unemployed in that period, improving on the expected reduction of 9,000. The unemployment rate meets expectations and remains at 6% for the sixth consecutive month.
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