Germany Cuts PMI
PMI Services: 46.8 v 49.0e (3rd month of contraction, lowest since Nov 2022) - - PMI Composite: 48.0 v 49.7e - - Comments: "The bad news is that business activity has fallen for a third month running and at the quickest rate in this sequence, thereby further increasing the likelihood of the economy having slipped back into contraction in the second quarter - - The service sector continues to act as a notable drag on the economy, seeing rates of decline in both business activity and new work gather pace in June. The good news is that inflationary pressures have started to ease off"
PMI Services: 46.8 v 49.0e (3rd month of contraction, lowest since Nov 2022) - - PMI Composite: 48.0 v 49.7e - - Comments: "The bad news is that business activity has fallen for a third month running and at the quickest rate in this sequence, thereby further increasing the likelihood of the economy having slipped back into contraction in the second quarter - - The service sector continues to act as a notable drag on the economy, seeing rates of decline in both business activity and new work gather pace in June.
The good news is that inflationary pressures have started to ease off"