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.
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