Economics
Germany’s Busy Factories Bring Fastest Growth in Six Years
- Manufacturing PMI rises to 59.4 from 58.2; est. 58.0
- Output, new orders, backlogs all grow most since 2011
This article is for subscribers only.
German manufacturing propelled economic growth to the fastest pace in six years as orders continued to pile up.
A Purchasing Managers’ Index for factories jumped to 59.4 in May from 58.2, according to a preliminary report by IHS Markit on Tuesday. That’s the highest reading since April 2011. A gauge for services slipped to a 3-month low.