Economics

German Factories Work at Record Speed as Strong 2017 Concludes

Robotic arms weld parts to be used in an automobile chassis in the Volkswagen AG factory, as part of the Think Blue sustainability initiative in Wolfsburg, Germany, on Friday, May 19, 2017. European car sales fell the most in four years in April as the shift of Easter from March reduced buyers time for shopping, while registrations in the U.K. were further sapped by tax changes.Photographer: Krisztian Bocsi/Bloomberg

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By Alessandro Speciale

December 14, 2017 at 8:30 AM UTC

This article is for subscribers only.

Germany is set to end the year with a further acceleration in economic growth, bolstered by an unprecedented expansion in manufacturing.

A Purchasing Managers’ Index of factory activity unexpectedly jumped to 63.3 in December from 62.5 in November, IHS Markit said on Thursday. That’s the highest level since the survey began in early 1996. A composite gauge that also includes services rose to 58.7 from 57.3, the strongest reading in more than six and a half years.