Latest PMI® survey data showed the downturn in Germany's manufacturing sector gather pace at the start of the fourth quarter. Goods producers reported the steepest drop in output since May 2020, whilst also noting a deepening decline in new orders, as conditions across the sector worsened amid growing concerns about the economic outlook and high energy costs. There was some alleviation of overall costs pressures, however, with falling demand for materials and an associated easing of supply-chain constraints contributing to a slowdown in input price inflation to a 21-month low. Factory employment meanwhile continued ... (full story)