Business News Asia
S&P Global released its final manufacturing purchasing managers’ index for April. It fell to 54.6 from 56.9 in March but was still slightly above the original estimate of 54.1.
The disruption of the supply chain combined with weak demand impacted German production activities. The war in Ukraine and the sanctions imposed are factors that have a negative impact on the economy.
However, the PMI remained above the 50 mark, indicating that the manufacturing sector in Germany is continuing to expand.
In addition, contrary to analysts’ expectations, German retail sales fell by 0.1% in March.
According to the Federal Statistical Office (Destatis), retail sales in March fell short of expectations due to the war in Ukraine.
The report said retail sales fell 0.1% in March, while analysts had expected a 0.3% increase.