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Germany Factory Growth at Near Three Year High

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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

Craig Erlam

Former Senior Market Analyst, UK & EMEA at OANDA
Based in London, Craig Erlam joined OANDA in 2015 as a market analyst. With many years of experience as a financial market analyst and trader, he focuses on both fundamental and technical analysis while producing macroeconomic commentary.

His views have been published in the Financial Times, Reuters, The Telegraph and the International Business Times, and he also appears as a regular guest commentator on the BBC, Bloomberg TV, FOX Business and SKY News.

Craig holds a full membership to the Society of Technical Analysts and is recognised as a Certified Financial Technician by the International Federation of Technical Analysts.
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