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German output falls at fastest rate for nearly 11 years amid escalation of COVID-19 crisis
The progression of the coronavirus disease 2019 (COVID-19) outbreak into a pandemic saw the downturn in Germany's manufacturing sector deepen in March. Latest PMI® data from IHS Markit and BME showed steep and accelerated falls in both output and new orders, driven by growing weakness in international demand and increased supply-chain disruption. Employment capacity was meanwhile scaled back as business confidence posted a record fall, slumping to its lowest for at least eight years. March saw the headline IHS Markit/BME Germany Manufacturing PMI – a single-figure snapshot of the performance of the manufacturing ... (full story)