The
German Economy
Continues To Get Worse
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.
- 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.
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