Flash German Manufacturing PMI 48.7 in in June vs 49.4 in May and consensus of49.8; services...

|By:, SA News Editor

Flash German Manufacturing PMI 48.7 in in June vs 49.4 in May and consensus of 49.8; services 51.3 vs 49.7 and 50; manufacturing output 50.1 vs 51.1; composite output 50.9 vs 50.2. "The headline PMI signaled growth," says Markit. "However, a look at the other sub-indices paints a worrying picture for the future. The drop off in new business intensified and employment was cut for a second month running." Then there's the effect of the widespread flooding, which hasn't yet shown up in the numbers. (PR)