Latest news with #HCOBGermanyManufacturingPMI
Yahoo
02-05-2025
- Business
- Yahoo
German factory output shows signs of recovery in April
BERLIN (Reuters) - Germany's manufacturing sector contracted at the slowest rate in more than 2-1/2 years in April as output rose at the quickest rate for more than three years, a business survey showed on Friday. The HCOB Germany Manufacturing PMI compiled by S&P Global rose to 48.4 in April from 48.3 in March, taking the index to its highest level since August 2022, although remaining below the 50.0 threshold indicating growth. April saw a consecutive rise in production levels across the sector, with growth accelerating to the fastest since March 2022, supported by a stronger expansion in investment goods. New orders also increased for the second month, though at a slower pace, with export sales rising marginally for the first time since early 2022, the survey showed. Cyrus de la Rubia, chief economist at Hamburg Commercial Bank AG, sounded a note of caution on the figures, however. "It is quite possible that the expansion in production over the past two months is due to pull-forward effects in connection with the impending US tariff increases, which means that there might be a backlash in the coming months," he said. Germany is expected to be hit hard by tariffs due to its export-oriented economy. The U.S. was Germany's biggest trading partner in 2024 with two-way goods trade totalling 253 billion euros. Despite the positive output trends, manufacturers' optimism over future business sank to its lowest level in four months. Sign in to access your portfolio
Reuters
01-04-2025
- Automotive
- Reuters
German manufacturing shows signs of recovery, PMI shows
BERLIN, April 1 (Reuters) - Germany's manufacturing sector showed signs of recovery in March, with its first production increase in nearly two years, a business survey showed on Tuesday. The HCOB Germany Manufacturing PMI compiled by S&P Global rose to 48.3 in March from 46.5 the previous month, taking the index to its highest level since August 2022, although remaining below the 50.0 threshold indicating growth. here. The uptick was primarily driven by the intermediate goods sector, while production in the investment goods sector remained stable, and the consumer goods sector saw a slight decline, the survey showed. New orders grew for the first time in three years, with domestic sales increasing as customers began restocking inventories. "Growth has been a foreign concept for German manufacturing for nearly two years," said Cyrus de la Rubia, chief economist at Hamburg Commercial Bank AG. "In March, however, production in the manufacturing sector increased for the first time, and not insignificantly." Special factors seem to be at play here, with U.S. importers potentially advancing imports to avoid impending tariffs, de la Rubia said. Germany's economic outlook has darkened somewhat since U.S. President Donald Trump announced a 25% tariff on imported vehicles. The outlook for future growth brightened significantly, reaching its most optimistic level in over three years, partly due to an announced spending spree.
Reuters
03-03-2025
- Business
- Reuters
German manufacturing shows signs of recovery, but job cuts accelerate, PMI shows
BERLIN, March 3 (Reuters) - Germany's manufacturing sector showed signs of recovery in February, with the downturn easing to its slowest pace in over two years, a business survey showed on Monday. The HCOB Germany Manufacturing PMI compiled by S&P Global rose to 46.5 last month from January's 45.0, marking the highest level since January 2023, although remaining below the 50.0 threshold indicating growth. The survey revealed modest declines in output, new orders, and export sales, with the smallest drop in new orders since April 2022. However, employment fell sharply, with the rate of job shedding accelerating to the fastest in three months. "Job cuts have accelerated sharply of late," said Cyrus de la Rubia, chief economist at Hamburg Commercial Bank AG. "However, with the stabilisation of production that is becoming apparent, it is possible that companies will gradually change tack." The survey also noted a decline in both input costs and output prices, attributed to spare capacity across supply chains. Despite a positive outlook for future output, business optimism weakened slightly from January's near three-year high, amid concerns over geopolitical tensions and tariffs. here.
Zawya
03-03-2025
- Business
- Zawya
German manufacturing shows signs of recovery, but job cuts accelerate, PMI shows
Germany's manufacturing sector showed signs of recovery in February, with the downturn easing to its slowest pace in over two years, a business survey showed on Monday. The HCOB Germany Manufacturing PMI compiled by S&P Global rose to 46.5 last month from January's 45.0, marking the highest level since January 2023, although remaining below the 50.0 threshold indicating growth. The survey revealed modest declines in output, new orders, and export sales, with the smallest drop in new orders since April 2022. However, employment fell sharply, with the rate of job shedding accelerating to the fastest in three months. "Job cuts have accelerated sharply of late," said Cyrus de la Rubia, chief economist at Hamburg Commercial Bank AG. "However, with the stabilisation of production that is becoming apparent, it is possible that companies will gradually change tack." The survey also noted a decline in both input costs and output prices, attributed to spare capacity across supply chains. Despite a positive outlook for future output, business optimism weakened slightly from January's near three-year high, amid concerns over geopolitical tensions and tariffs. (Reporting by Reuters; editing by Christina Fincher)
