The growth rate of the German economy is slowing in May

The lower preliminary BMI indicators in May indicate the slowing growth rate of the German economy, compared to the previous month – Markit Economics economy research institute announced on Thursday in London.

The preliminary May value of the German manufacturing Purchasing Managers' Index (BMI) declined to is 51.4 points, from the 52.1 points of April. This is a three points low. Analysts expected a modest increase of 52.3 points.

Germany's unexpected weakness contrasted the slow but consistent improvement from France, where all three of Markit's benchmark readings improved. (MTI)