German Manufacturing Expands More Than Initial Estimate

(RTTNews) - Germany's manufacturing sector expanded more than initially estimated in December, final data from Markit showed Monday.

The Markit/BME manufacturing Purchasing Managers' Index rose to 53.2 in December from 52.9 in November. The reading signaled the strongest improvement in the sector for four months. The flash PMI reading was 53.

Manufacturing companies registered accelerated growth in December. Respondents said demand from both the domestic and foreign markets remained strong.

In response to increased new work, German manufacturers scaled up production. Moreover, manufacturing employment rose for the fifteenth month running.

Input costs in Germany's goods-producing sector fell again in December. Meanwhile, companies left their average selling prices largely unchanged.