IHS Markit’s Final Purchasing Managers’ Index (PMI) for manufacturing - which accounts for about a fifth of Europe’s largest economy - fell to 34.5, the lowest reading since March 2009, from 45.4 in March.
BERLIN: German factory output shrank at the fastest rate on record in April and firms in the export-oriented sector cut jobs at the fastest pace in almost 11 years, a survey showed, as the new coronavirus crushed demand.
That sent IHS Markit’s Final Purchasing Managers’ Index (PMI) for manufacturing - which accounts for about a fifth of Europe’s largest economy - falling to 34.5, the lowest reading since March 2009, from 45.4 in March.
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