Growth of Germany's manufacturing sector slowed in September, subdued by the steepest drop in new export orders in over five years, the latest PMI survey data from IHS Markit showed. Production levels exhibited their smallest gain since April 2016, while business confidence towards the year-ahead outlook for output was the gloomiest for over three years.

September saw the headline IHS Markit/BME Germany Manufacturing PMI - a single-figure snapshot of the performance of the manufacturing economy - sink to a 25-month low of 53.7 from 55.9 in August. The fall in the index reflected slower growth in output, new orders and employment, as well as a reduction in the incidence of supplier delivery delays. The only positive directional influence was from stocks of purchases, which showed a marginal rebound following a slight drop in August.