BERLIN (dpa-AFX) - German factory sector contracted less than initially estimated in December, the detailed survey results from Markit Economics showed Monday.
The purchasing managers' index or PMI posted 48.4 in December, up slightly from the flash figure of 48.1 and also above November's 47.9. However, a PMI reading below 50 indicates contraction of the sector.
New business and output continued to fall during December, albeit at slower rates than one month previously. Although the contraction in production was only marginal, new business dropped at the second-fastest pace since June 2009.
German manufacturers continued to add staff at a solid pace in December, but still the overall rate of job creation was the weakest since May 2010.
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