Bad news from the German private sector

For the first time in six and a half years, the performance of the private sector in the German economy declined in September as the manufacturing recession deepened and lost momentum in the service sector.

According to the preliminary data from the IHS Markit London-based Financial and Economic Data Provider released on Monday, the manufacturing Purchasing Manager Index (PMI) has fallen to a 123-month low of 41.4 points from the 43.5 points of August. Analysts expected an improvement of 44.0 points. (MTI)