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German manufacturing sector ends first quarter still firmly in contraction, but business expectations brighten
Germany's manufacturing sector ended the opening quarter of the year still mired in contraction territory, the latest HCOB PMI ® survey conducted by S&P Global showed. Business expectations towards future output turned positive in March, though weak demand conditions nevertheless contributed to further factory job losses and a sustained draw-down of pre-production inventories. There was also more discounting among manufacturers amid strong competition for new work. The HCOB Germany Manufacturing PMI® – which is a gauge of overall business conditions based on measures of new orders, output, employment, ... (full story)