Germany manufacturing activity contracts further in April – survey

02 May 2012 18:33  [Source: ICIS news]

LONDON (ICIS)--Activity in Germany’s manufacturing sector continued to contract in April, according to a survey released on Wednesday.

Economics research firm Markit said that its monthly purchasing managers index for Europe’s largest economy fell to 46.2 points in April, from 48.4 in March. Readings of below 50.0 indicate a contraction in manufacturing.

“Germany started the second quarter of 2012 with its worst manufacturing performance for almost three years, as another month of weaker order inflows finally brought production levels back into contraction,” said Markit senior economist Tim Moore.

“With backlogs of work failing to support output volumes in April, manufacturers cut their staffing numbers for the first time since March 2010,” Moore added.

The index is based on survey data from a panel of more than 500 Germany-based manufacturing companies.

Paul Hodges studies key influences shaping the chemical industry in his Chemicals and the Economy Blog

By: Stefan Baumgarten
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