Germany’s manufacturing sector slumped in December as supply chain problems helped cushion the decline, although weak demand continued to weigh on sentiment, a survey showed on Monday.
S&P Global’s final Purchasing Managers’ Index (PMI) for manufacturing, which accounts for about a fifth of Germany’s economy, rose to 47.1 from November’s 46.2.
While this was the third consecutive month-over-month increase, the index is still below the 50 mark, meaning activity is winding down, albeit at a slower pace.