German Production Halts as a Result of Supply Constraints
Due to ongoing supply constraints, the German industry failed to keep up with rising demand in August, with the aftereffects of the coronavirus pandemic still affecting supply chains around the world. Production increased at a far slower rate than new orders. Furthermore, industrial businesses' confidence in future growth has dipped marginally, owing mostly to rising pricing pressure. The seasonally adjusted IHS Markit/BME Purchasing Managers' Index (EMI) dropped by 3.3 points in August, demonstrating this.
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