24 Jul 2015
German manufacturing PMI hits two-month low in July
FXStreet (Mumbai) - The Markit Flash Germany manufacturing PMI in June fell to a two-month low of 51.5, missing the estimate of 51.9. The flash services PMI also dropped to 53.7, driving the composite PMI to a two-month low of 53.4 in July from 53.7 in June.
As per the official report, companies reported a slight-pick up in the rate of growth in new business to a three-month high. Moreover, new export business placed with German manufacturing companies declined for the first time since January. Employment growth picked up at both service providers and manufacturers.
Input costs rose for the fifth straight month in July, but the rate of inflation slowed to the weakest since March, but, the rate of output price inflation was unchanged from June’s modest pace.
As per Oliver Kolodseike, Economist at Markit and author of the Flash Germany PMI, “July’s flash PMI data signal further modest, but unspectacular growth in Germany’s private sector, suggesting that the Greek debt crisis is not showing any meaningful negative effects on companies in the Eurozone’s largest member state so far."
As per the official report, companies reported a slight-pick up in the rate of growth in new business to a three-month high. Moreover, new export business placed with German manufacturing companies declined for the first time since January. Employment growth picked up at both service providers and manufacturers.
Input costs rose for the fifth straight month in July, but the rate of inflation slowed to the weakest since March, but, the rate of output price inflation was unchanged from June’s modest pace.
As per Oliver Kolodseike, Economist at Markit and author of the Flash Germany PMI, “July’s flash PMI data signal further modest, but unspectacular growth in Germany’s private sector, suggesting that the Greek debt crisis is not showing any meaningful negative effects on companies in the Eurozone’s largest member state so far."