Growth in German factory activity remained solid for the third quarter, according to figures from Markit, suggesting the German economy remains strong despite the catastrophic the Volkswagen scandal and volatilty in China over the last quarter.
Markit’s purchasing managers’ index (PMI) for manufacturing in Germany fell two points to 52.1 in October from 52.3 the previous month, with factory output increasing for the 30th month in a row. Any figure over 50 is considered to show growth.
However, some companies’ noted slightly weaker demand from Russia and China. Growth was led mainly by consumer goods companies, suggesting private consumption will continue to stay strong.
