German industry is growing vigorously – still

Despite the corona pandemic, German industry is doing well. The purchasing managers index climbed 1.8 to 58.2 points in October, announced the IHS Markit institute on the basis of final data from its company survey. “Manufacturing continues to recover rapidly,” said Markit economist Phil Smith. The barometer is at its highest level since March 2018 and well above the 50 mark, from which it signals growth. The companies recorded the strongest increase in orders since the survey began in 1996.

After the slump due to the corona crisis in spring, the German economy recovered noticeably and grew at a record pace in the summer quarter . The gross domestic product rose by 8.2 percent between July and September compared to the previous quarter. Despite the increased number of infections and recently decided lockdown measures, there was a further recovery in industry in the euro zone overall in October. 

Source: Der Spiegel. (