German factories on hiring spree to meet strong demand in April -PMI

Euronews | May 3, 2021 at 12:30 PM
  • Job creation in Germany’s manufacturing sector accelerated in April, a survey showed on Monday, as factories optimistic about strong demand faced growing pressure on production capacity.
  • IHS Markit’s Final Purchasing Managers’ Index (PMI) for manufacturing, which accounts for about a fifth of the economy, reached 66.2, slightly lower than a flash reading of 66.4 but still close to March’s record high reading of 66.6.
  • Shortages of raw material and components like chips are creating headwinds for manufacturers, especially those in the automotive industry.