German PMI data

The German Economy

Continues To Get Worse

Business Insider,

1 August, 2012

German manufacturing PMI sank to 43.0 in July.

Economists surveyed by Bloomberg were expecting a reading of 43.3, down from 45.0 in June.

A reading below 50 signals contraction in the industry.

Key points from Markit:

• Production drops for fourth month running in July
• Job shedding fastest for two-and-a-half years
• Fastest decline in input costs since August 2009

From Markit economist Tim Moore:

Germany is Europe's largest economy, and it's one of the more financially sound.

However, lately, its economy has been showing cracks.

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