German Preliminary Manufacturing PMI drops to 47.0 in January vs. 47.9 expected Germany EconomicIndicator PMI Manufacturing EURUSD
Services PMI in Germany jumps to 50.4 in January vs. 49.7 expected.The German manufacturing sector contraction moderated in January even as inflation continues to slow, the preliminary manufacturing activity report from S&P Global/BME research showed this Tuesday. in Eurozone’s economic powerhouse came in at 47.0 this month vs. 47.9 expected and 47.1 prior. The index dropped to two-month lows.
The S&P Global/BME Preliminary Germany Composite Output Index arrived at 49.7 in January vs. 49.6 expected and December’s 49.0. The gauge reached a seven-month top.“January’s flash PMI, which at 49.7 showed business activity in Germany on a more stable footing at the start of the year and was broadly in line with market consensus, lends support to the notion that a recession in the eurozone’s largest economy is by no means a foregone conclusion.
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