02 January 2012 14:35 [Source: ICIS news]
Markit said its purchasing managers’ index for
December data pointed to a slower and only modest decrease in German manufacturing output. This was despite a relatively sharp fall in new orders, which led to further backlog clearance and efforts by firms to lower their inventories, Markit said.
A ”sustained moderation” in export sales was the main drag on the manufacturing sector during recent months,
Manufacturers surveyed by Markit noted that a renewed downturn in demand began in Europe during the summer, and had now started to spread to clients in emerging markets,
“Shrinking order books resulted in a sharp fall in backlogs of work during December and a shift to more cautious inventory policies,” he said.
Markit’s monthly survey is based on responses of a panel of more than 500 German manufacturing companies.
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