Economic Buzz: German manufacturing activity improves further in August

Germany's manufacturing sector activity advanced further in August, with the manufacturing Purchasing Managers' Index (PMI) at 54.3, up from 52.2 in July and hitting a 51-month high, S&P Global revealed in its report on Tuesday.

The report noted that the output growth rate reached its highest level in more than four and a half years, and new orders increased at a faster pace. In addition, companies voiced optimism over future production. However, supply chain pressures intensified in the reported month to the worst for three months.

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