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German PMI drops to five-month low in November due to tightening of COVID-19 restrictions, but economy remains buoyed by manufacturing
New lockdown measures to curb the spread of coronavirus disease 2019 (COVID-19) led to an accelerated decline in services activity across Germany in November, latest ‘flash’ PMI® from IHS Markit showed. However, the country’s manufacturing sector continued to exhibit strong growth, helping to support overall economic activity. Elsewhere, the recent progress in the development of COVID-19 vaccines saw business confidence towards future output perk up to the highest for over two-and-a-half years. The headline Flash Germany Composite Output Index fell to its lowest for five months in November. However, at 52.0, ... (full story)