June manufacturing PMI output 45.1 vs 48.0 in May (Il Sole 24 Ore Radiocor) - London , 01 Jul - In June, Germany's purchasing managers' index for the manufacturing sector fell to a two-month low of 43.5 from 45.4 in May, according to data released by S&P Global and Hamburg Commercial Bank.

The manufacturing PMI output decreased to a three-month low of 45.1 from 48.0 in May.

A reading above 50 signals expanding sector activity and a reading below 50 a contraction.

"Will this downturn in manufacturing never end? It will, but apparently it is going to take longer than expected. After having seen the decline in output ease in every month since March, this trend was interrupted in June. The accelerated fall in new orders and especially export orders indicates that we will have to wait some more months until a recovery in the manufacturing sector can be seen. However, companies are far from throwing in the towel, as they are more optimistic about the future than they were in May," commented Cyrus de la Rubia, chief economist at Hamburg Commercial Bank.

"The weakening demand conditions are hitting all surveyed sectors, from consumer to intermediate and investment goods.

While this is just a monthly setback and shouldn't be overdramatized, it's worrying that the investment goods sector, a cornerstone of Germany's industry, is drifting further from growth territory instead of moving closer to it.".

AAA-Hob

(RADIOCOR) 01-07-24 10:07:35 (0190) 5 NNNN