Germany's manufacturing PMI at 3-month low level

ISTANBUL

The German manufacturing sector's purchasing managers' index (PMI) was at its three-month low level in February, S&P Global said on Tuesday.

According to preliminary figures, the country's manufacturers saw a continued downturn in new orders, led by a sustained sharp drop in export sales.

"The considerable easing of supply-chain pressures in February coincided with a reduction in average input costs faced by goods producers," it said.

Phil Smith, economics associate director at S&P Global, said: "With manufacturing new orders still in contraction territory, goods producers remain only cautiously optimistic about the year-ahead outlook, and they will likely need to see demand revive for that to change."