German manufacturing sector rebounds in Oct after Sept dip - PMI

German factory activity rebounded in October after shrinking slightly in September for the first time in over a year, although there are signs of weak domestic demand in Europe's largest economy, a survey showed on Monday. Markit's Purchasing Manager's Index (PMI) for the manufacturing sector, which accounts for about a fifth of the economy, climbed to 51.4 from 49.9 in September, bouncing back above the 50 mark that denotes growth. "Worryingly, the drop in new work was driven by weakening domestic demand." "Overall, the data send mixed signals about the health of Germany's manufacturing sector and it is too early to say whether the sector will be able to sustain growth in the fourth quarter," he added. The German economy had a strong start to 2014 but contracted in the second quarter.

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