German manufacturing growth nears three-year high in December

Berlin

GERMAN manufacturing growth reached its highest in almost three years in December, driven by rising demand from Asia and the United States, a survey showed on Monday, suggesting that the sector will contribute to an expansion in the fourth quarter.

Markit's Purchasing Managers' Index (PMI) for manufacturing, which accounts for about a fifth of the economy, rose to 55.6 from 54.3 in November to reach its highest level in 35 months.