Stay 
Trading Conditions
Products
Tools
Germany's manufacturing sector expanded again in October as stronger rise in new orders, survey data from Markit Economics showed on Tuesday.
The seasonally adjusted Markit/BME Purchasing Managers' Index, a composite indicator designed to give a single-figure snapshot of operating conditions in the manufacturing economy, rose to 56.6 in October from 55.1 in the previous month.
A PMI reading above 50 suggests expansion of the sector while a reading below 50 suggests contraction. Thus, the latest reading is well above the neutral 50 and higher than the series average.
The robust improvement in the overall performance of the German manufacturing sector was mainly influenced by stronger gains in new work, the Markit said.
New business levels expanded at a faster pace in October, partly supported by a stronger contribution from new export orders. Similarly, manufacturing output increased for the sixteenth consecutive month.
"While the recovery may have stepped down a gear towards the latter part of 2010, manufacturing job creation remains relatively strong and continues to outshine the rest of the 'big-four' euro area economies." Tim Moore, economist at Markit said.
Copyright(c) 2010 News.com, Inc. All Rights Reserved
