FLGR - Germany factory activity unexpectedly fell to 44.4 in March

2023-03-24 04:46:21 ET

• The headline S&P Global Flash Germany PMI Composite Output Index increased to 52.6, up from 50.7 in February, its latest reading signalled an acceleration in the rate of growth to the quickest since May last year.
• The Services PMI in Germany increased to 53.90 points in March from 50.90 points in February of 2023.
• The S&P Global Manufacturing for Germany unexpectedly fell to 44.4 in March of 2023 from 46.3 in February and well below forecasts of 47, preliminary estimates showed.
• The reading pointed to a ninth straight month of falling factory activity and the deepest contraction since May of 2020 in the height of the coronavirus pandemic, with manufacturing output and job creation little-changed while factory order books fell at a faster pace and outstanding business reduced markedly.
• Meanwhile, factory gate charge inflation slowed to its lowest since January 2021 and overall input costs dropped the most since May of 2020 due to softer raw material and energy prices.
• ETFs: EWG , DAX , GF , DXGE , HEWG , DBGR , EWGS , FGM , FLGR .

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