BERLIN, Oct 1 (Reuters) – Germany’s manufacturing sector sustained its upturn in September as production levels and new orders once again registered strong growth despite renewed inflationary pressures stemming from the global energy markets, a business survey showed on Thursday.
• The S&P Global final Purchasing Managers’ Index for German manufacturing fell slightly, to 53.9 in September from 54.3 the month before but above a preliminary reading of 53.8.
• Production rose for a ninth straight month, easing only slightly after August’s fastest expansion in more than four-and-a-half years.
• New orders also increased for a fourth month, with export sales growing again on demand from Asia, Europe and the US.
• “The numbers add to the growing narrative that economic conditions are holding up better than expected in the face of elevated energy prices and rising long-term interest rates,” said Phil Smith, economics associate director at S&P Global Market Intelligence.
• Cost pressures intensified in September after easing in the previous three months, with input price inflation rising to its highest since June, while output price inflation edged up to a three-month high.
• Good producers’ output expectations over the coming 12 months reached their highest level since February.
(Reporting by Miranda Murray; Editing by Toby Chopra)
