Latest data released by Markit/BME - 4 January 2021
The preliminary release can be found here. Little change to the initial reading, as the print comes in at a 34-month high. This just reaffirms the robustness in the German manufacturing sector seen throughout the virus crisis. Markit notes that:
"The German manufacturing sector, for the most part, continued to power on in December, with only consumer goods production showing any real weakness as a result of the fresh lockdowns at home and abroad.
"The headline PMI remained in strong growth territory, though it should be highlighted that the improved reading compared to November owed in large part to the supplier delivery times sub-index, which is inverted for the calculation of the PMI and fell sharply to a near-record low as a result of growing supply bottlenecks.
"Manufacturers in December's survey didn't report a great deal of disruption to production from these emerging supply issues, but they could start to bite as we move through the opening quarter of 2021 and they are already impacting businesses through increased input prices and freight rates.
"Nevertheless, manufacturers mainly see a bright future in 2021. With the rollout of COVID vaccines, it's hoped that the pandemic will become less and less of a hindrance to demand and that investment will continue to recovery in the year ahead."