German Preliminary Manufacturing PMI unexpectedly declines to 46.5 in February Germany EconomicIndicator EURUSD PMI Manufacturing
Services PMI in Germany jumps to 51.3 in February vs. 51.0 expected.The German manufacturing sector contraction unexpectedly deepened in February even as supply bottlenecks eased rapidly, the preliminary manufacturing activity report from S&P Global/BME research showed this Tuesday. in Eurozone’s economic powerhouse came in at 46.5 this month vs. 47.8 expected and 47.3 prior. The index dropped to a new three-month low.
The S&P Global/BME Preliminary Germany Composite Output Index arrived at 51.1 in February vs. 50.4 expected and January’s 49.9. The gauge recorded its best level in eight months.“February’s flash PMI survey showed the German private sector economy return to growth territory for the first time eight months, alongside continued resilience in the labor market and a further slight recovery in business confidence.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
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