German flash manufacturing PMI contracts to 43.3 in July, a 37-month low, vs. 45.0 in June and...

|By:, SA News Editor

German flash manufacturing PMI contracts to 43.3 in July, a 37-month low, vs. 45.0 in June and 45.1 expected. PMI services at 49.7 vs. 49.9 prior and 50.0 expected. "German business conditions are far less healthy" than in H1 and "an accelerated decline in new work means that the stage could well be set for a steeper drop in GDP than the 0.2% fall recorded at the end of 2011." (PR)