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German PMI points to manufacturing downturn easing, but firms maintain cautious outlook
The downturn in Germany's manufacturing sector showed further signs of easing in January, with output, new orders and purchasing activity all falling at the slowest rates for several months, the latest HCOB PMI® survey conducted by S&P Global showed. Still, goods producers reported another solid round of job cuts, reflecting softer capacity pressures and low expectations for the year ahead. The improvement in supplier delivery times observed since late-2022 meanwhile virtually stalled in January, as firms reported delays to shipments from Asia due to the incidents in the Red Sea. Signs of a spillover to prices were ... (full story)