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CoinWorld reports that Phil Smith, Vice President of Market Intelligence and Economics at S&P Global, stated that the direct impact of the Middle East war on German manufacturing was reflected in the March PMI. The input cost inflation rate surged due to soaring oil and gas prices, marking the largest single-month increase on record. Supply chain pressures have led to the longest delivery delays since mid-2022, and manufacturers have lowered their growth expectations for the coming year.