Germany Factory Growth at Near Three Year High

German manufacturing growth reached an almost three-year high in October as Asian and U.S. demand rose, a survey showed on Wednesday, suggesting the sector will contribute to an expansion in the fourth quarter.

Markit’s Purchasing Managers’ Index (PMI) for manufacturing, which accounts for about a fifth of the economy, rose to 55.0 from 54.3 in September to reach its highest level in 33 months.

That was slightly below a flash reading and well above the 50 line that separates growth from contraction.

Reuters

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Craig Erlam
Based in London, England, Craig Erlam joined OANDA in 2015 as a Market Analyst. With more than five years' experience as a financial market analyst and trader, he focuses on both fundamental and technical analysis while conducting macroeconomic commentary. He has been published by The Financial Times, Reuters, the BBC and The Telegraph, and he also appears regularly as a guest commentator on Bloomberg TV, CNBC, FOX Business and BNN. Craig holds a full membership to the Society of Technical Analysts and he is recognized as a Certified Financial Technician by the International Federation of Technical Analysts.