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Services PMI for the German economy contracts to 47.3 in August vs. 51.5 expected.Germany’s manufacturing downturn eased in August while the services sector entered contraction, the preliminary business activity report from the HCOB survey showed on Wednesday. in Eurozone’s biggest economy came in at 39.1 this month, as against the 38.7 expectations and 38.8 figure reported in July. The index hit its highest level in two months.
Meanwhile, Services PMI dropped sharply from 52.3 in July to 47.3 in August. The market estimated a 51.5 reading. The measure reached a fresh nine-month low.and July’s 48.5. The gauge registered a 39-month low. is turning south, extending the drop toward 1.0800 on the mixed German data. The pair is trading 0.25% lower at 1.0815, at the time of writing.Information on these pages contains forward-looking statements that involve risks and uncertainties.
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