Germany August flash manufacturing PMI 42.1 vs 43.5 expected ...Middle East

Prior 43.2Services PMI 51.4 vs 52.3 expectedPrior 52.5Composite PMI 48.5 vs 49.2 expectedPrior 49.1German business activity continues to contract in August and the services sector is also starting to weaken further in Q3. The contrast highlights how much of the boost in France owes to the Paris Olympics. In any case, this just reaffirms market expectations for a rate cut by the ECB next month. EUR/USD got a brief spike to 1.1165 after the French data but is now trading to fresh lows on the day at 1.1132 after the German data.HCOB notes that:"These numbers are a real mess. The recession in Germany’s manufacturing sector deepened in August, with no recovery in sight. In fact, new orders took a

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Germany August flash manufacturing PMI 42.1 vs 43.5 expected ...Middle East

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