German manufacturing remains under pressure in Oct - PMI
© Reuters. A steel worker of ThyssenKrupp stands amid sparks of raw iron coming from a blast furnace at a ThyssenKrupp steel factory in Duisburg, western Germany, November 14, 2022. REUTERS/Wolfgang Rattay/File Photo
"It seems clear that manufacturing is still in a downturn for the current year," said Cyrus de la Rubia, Hamburg Commercial Bank chief economist."Yet, signs are pointing towards a potential rebound by the first half of next year." Pressure on supply chains continued to ease due to weaker demand, which at the same time contributed to further declines in both input costs and output charges as businesses reported strong competition for new work, according to the report.
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