FILE PHOTO: A worker at German manufacturer of silos and liquid tankers, Feldbinder Special Vehicles, welds aluminium at the company's plant in Winsen, Germany, July 10, 2018. REUTERS/Fabian Bimmer
BERLIN - The recovery in Germany’s manufacturing sector accelerated in September, with output growing at the fastest pace in more than two years, a survey showed on Thursday. IHS Markit’s final Purchasing Managers’ Index for manufacturing, which accounts for about a fifth of the economy, rose to 56.4 in September.Phil Smith, principal economist at IHS Markit, said both orders and output were rising all across the manufacturing sector, helped by growing export demand.
“Even investment goods producers, who have generally underperformed in the recovery up to now, enjoyed a much better month in September,” Smith said. But he added that firms were still struggling financially, which could be seen in further job cuts and shrinking inventories.
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