Business conditions deteriorated across Germany's manufacturing sector in November, with a notable drop in new orders causing production growth to slow further, according to the latest HCOB PMI® survey. Goods producers remained firmly in retrenchment mode, cutting employment, purchasing activity and stocks. On the supply side, the latest data showed that delivery times on inputs lengthened for a third straight month. Meanwhile, input costs, which have been in decline since early 2023, came close to stabilising in the penultimate month on the year. Firms were more optimistic about the year-ahead outlook, although ... (full story)