German manufacturing activity remains weak in February, but with some encouraging signs -PMI

BERLÍN, Mar 1 (Reuters) – The German manufacturing activity will continue to contract in general in February, but the production will increase for the first time in new seasons, there will be botella bowls in the chain of suministro mostraron indications of alivio, según una encuesta publicada Wednesday.

The final S&P Global Purchasing Managers’ Index (PMI) for the manufacturing sector, which accounts for about a fifth of the German economy, fell to 46.3 in February from 47.3 in January. It marked its lowest level in three months and remained below the 50 level which indicates growth in activity. However, S&P Global saw encouraging signs.

“The easing of supply chain pressures is underscored not only by a record improvement in delivery times, but also by the first drop in purchase prices in nearly two and a half years, as the pendulum of power pricing is up to the buyers,” said Phil Smith, associate director of economics at S&P Global Market Intelligence.

The report notes that while supply is positive, demand remains under pressure and new orders continue to decline.

The German manufacturing PMI has been languishing below 50 since July. A Reuters poll of analysts had forecast a February reading of 46.5, in line with preliminary data.

Manufacturers were slightly more optimistic about the outlook than in January, marking the fourth consecutive monthly improvement in confidence, the survey showed.

“Hopes of easing inflationary pressures helped improve the outlook for German goods producers in February, although expectations have yet to return to pre-Russian invasion levels in Ukraine,” he said. Smith.

(Reporting by Maria Martinez; Spanish edition by Flora Gómez)