The sharp drop in the order index, from 48,1 points to 46,2 points, caused a contraction in the German manufacturing sector in March: the PMI manufacturing index elaborated by Markit has in fact dropped to 48,1 (from 50,2 in February), disappointing the forecasts of analysts who, indeed, expected a progression to 51,0, and slipping below the fateful threshold of 50 that separates contraction and expansion.
The figure, the lowest since November's 47,9, raised questions about the ability of the German economy to withstand the impact of the crisis. Even the Services PMI dropped from 52,8 in February to 51,1. Also in this case, the consensus of analysts is not met. The composite PMI index, while remaining above 50 points, fell from 53,2 to 51,4.
