Production levels across Germany's manufacturing sector remained under pressure from a sustained downturn in new orders in October, with output often supported by the clearing of backlogs of work, the latest HCOB PMI® survey conducted by S&P Global showed. Rates of decline slowed, however, and firms' expectations towards future production – although still pessimistic – showed a slight improvement. Going against this trend was a solid and accelerated reduction in factory workforce numbers. Pressure on supply chains continued to ease due to weaker demand, which at the same time contributed to further declines in both ... (full story)