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[German Factory Activity Ends 2024 With Accelerated Decline, PMI Shows] PMI Data Shows That Germany's Manufacturing Sector Ended 2024 On A Downbeat Note, With Sharper Declines In Output And New Orders, In A Clear Sign That Industry In Europe's Largest Economy Will Not Be Coming Out Of Its Downturn Anytime Soon. "The Situation In The Manufacturing Sector Is Still Pretty Grim," Said Hamburg Commercial Bank Chief Economist Cyrus De La Rubia. "Production Is On A Steep Decline, And New Orders Keep Slumping, Making It Clear That The Industry Won't Be Coming Out Of Recession Anytime Soon. The Intermediate Goods Category In Particular Saw Its Steepest Decline In A Year, And Things Are Not Looking Much Better For The Investment Goods Sector," Added De La Rubia. The Trend Of Deteriorating Business Conditions Might End In The Second Half Of 2025, De La Rubia Said, When Germany Should Have A New Government In Place After February Elections, And Caution Towards Investment And Consumption Could Change. But Finding Support For This Thesis In The Numbers Is Difficult.
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