February saw the rates of decline in manufacturing output and new orders quicken in Germany, marking a fresh setback for the country's industrial sector midway through the opening quarter of the year, the latest HCOB PMI® survey conducted by S&P Global showed. Factory job cuts also deepened as firms reported falling backlogs of work and lower expectations for activity in the coming year. Weak demand across supply chains led to sustained downward pressure on input costs and quicker lead times on purchases. That was despite some reports of higher transport costs and delays due to the Red Sea shipping disruption. The ... (full story)