-
German manufacturers make deeper cuts to output in June as order book decline gathers pace
German manufacturing firms reported deeper cuts to production levels at the end of the second quarter, in response to a sustained weakening of demand, according to the latest HCOB PMI® survey conducted by S&P Global. Furthermore, expectations towards output prospects in the coming year reached their lowest since last November as surveyed firms cited numerous headwinds to growth. Goods producers in the eurozone's largest economy meanwhile reported a fall in output prices for the first time since September 2020, reflecting a deepening decline in input costs and growing competitive pressures. The HCOB Germany ... (full story)