By Tuba Sahin
ANKARA (AA) - Germany's manufacturing purchasing managers' index (PMI) rose to a three-month high of 47.1 in December, according to data that US-based financial services company S&P Global released on Monday.
The figure was up from 46.2 in November 2022, but below the 50 threshold that separates growth from contraction for a sixth consecutive month.
The downturn in German manufacturing activity eased in December, helped by a further reduction in supply chain friction, S&P Global said.
December's output component eased to a modest pace that was weakest since last June.
"The survey signaled better availability of materials and with it an easing of the decline in production," said Phil Smith, economics associate director at S&P Global Market Intelligence.