(Il Sole 24 Ore Radiocor) - Milano, 23 giu - In June, Germany's purchasing managers' index for the manufacturing sector jumped to a 34-month high of 49.0 from 48.3 in May, according to preliminary data released by S&P Global and Hamburg Commercial Bank.

A reading below 50 signals contracting sector activity, while one above an expansion.

The manufacturing output component of the index rose to a 39-month high of 52.6 from 51.4 in May.

In the services sector, the index inched up to a three-month high of 49.4 from 47.1 in May, while the composite output index, a weighted average of services PMI and manufacturing output, increased to 50.4 from 48.5 in May, also a three-month high.

'It looks like Germany's manufacturing sector might finally be turning a corner," commented Cyrus de la Rubia, chief economist at Hamburg Commercial Bank. "For four months in a row now, production has been ticking up. As a result, economic output in this sector grew in the first half of this year. At 49 points, the headline index is still slightly in recessionary territory, due to factors such as further job cuts, but the trend has been upward since the beginning of the year. It is also encouraging that order intakes have returned to growth, meaning that the momentum of recent months cannot be attributed solely to advance orders from the US, where many companies had stocked up on goods in anticipation of higher tariffs.

'Following the sharp slump in activity in May, the situation in the service sector is stabilizing somewhat. Business activity has declined only slightly, and companies in this sector have increased their staffing levels somewhat more than in the previous month. The fact that companies were able to implement greater price increases than in May also suggests that the sector is not doing as badly as might have.

been expected after the previous results."

(RADIOCOR) 23-06-25 10:02:17 (0184) 5 NNNN