The German economy fell back
In July, the performance of the German economy unexpectedly began to decline, according to the preliminary results of the survey published on Friday by the London-based S&P Global economic research institute (formerly IHS Markit). The performance of the manufacturing industry decreased for the first time in two years, and that of the service industry for seven months.
German PMI fell below 50 points
S&P Global’s composite PMI, which includes both manufacturing and service industry data, fell to 48.0 points for July, a 25-month low, from 51.3 points in the previous month, well below market expectations of 50.1 points. (MTI)
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