A Bad Year for German Industry | Business| Economy and finance news from a German perspective | DW | 02.01.2003
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A Bad Year for German Industry

Last year ended almost as bad as it started for industry in Germany and across the euro zone. A poll of purchasing managers conducted by Reuters found an increase in the business slowdown. In November, industry underwent a slight recovery. The Reuters Purchasing Managers Index (EMI) blamed weak demand and related job cuts for a drop from 49 points in December to 46.9 points in December. Economists polled by Reuters had forecasted a level of 48.9 points for the month.