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IHS
Markit's final Purchasing Managers' Index (PMI) for
manufacturing, which accounts for about a fifth of the German
economy, rose to 58.3 from 57.8 the previous month.
The December reading was slightly below a flash estimate
released last month, but it still marked the highest reading
since February 2018.
IHS Markit economist Phil Smith said German manufacturing
continued to power on at the end of the year as only producers
of consumer goods showed some weakness following fresh lockdowns
at home and abroad.
Germany imposed a limited lockdown on Nov. 2 under which
restaurants, bars, gyms and entertainment venues were closed
while factories and shops remained open.
As those measures failed to bring down infection numbers,
authorities put in place stricter curbs from Dec. 16 which have
shuttered most stores as well as hair salons and other services.
The survey revealed growing supply chain pressures, with
widespread reports of shortages of raw materials and components,
bottlenecks in sea freight due to a lack of available containers
and other COVID-19-related disruptions.
Those supply problems did not cause major disruptions in
production in December, but they may start to bite in the coming
months, Smith said.
"Nevertheless, manufacturers mainly see a bright future in 2021.
With the rollout of the COVID vaccines, it's hoped that the
pandemic will become less and less of a hindrance to demand and
that investment will continue to recover in the year ahead."
(Reporting by Michael Nienaber; Editing by Hugh Lawson)
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