German S&P Global Manufacturing PMI Final (Mar) 52.2 vs. Exp. 51.7 (Prev. 50.9, Low. 50.9, High. 51.7)
Importance
Level 1
- "Input cost inflation has spiked higher on the back of the surge in oil and gas prices, registering its largest single-month rise on record."
- "We're already starting to see signs of stress across supply chains, with lead times on inputs lengthening to the greatest extent since mid-2022. This has helped boost the headline PMI, due to the assumption that longer delivery times are usually associated with increased demand."
- "Manufacturers themselves have revised down growth forecasts for the coming year, with heightened levels of uncertainty and strong inflationary pressures expected to eventually act as headwinds to demand and production."
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