German Preliminary Manufacturing PMI drops sharply to 58.5 in September vs. 61.5 expected

• German Manufacturing PMI arrives at 58.5 in September vs. 61.5 expected.
• Services PMI in Germany eases to 56.0 in September vs. 60.2 expected.
• EUR/USD drops from highs on German PMIs big miss.

The German manufacturing sector sharply slows its pace of expansion in September, the preliminary manufacturing activity report from IHS/Markit research showed this Thursday.

The Manufacturing PMI in Eurozone’s no.1 economy came in at 58.5 this month vs. 61.5 expected and 62.6 prior.

more to come ...