Anon Archived German manufacturing recession deepens, weakest showing in seven years (uk.reuters.com)
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Anon Archived German manufacturing recession deepens, weakest showing in seven years (uk.reuters.com)
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'The latest reading was the lowest since July 2012.“The health of German manufacturing went from bad to worse in July,” said Phil Smith, Principal Economist at IHS Markit. '
'Markit’s flash composite Purchasing Managers’ Index (PMI),which tracks the manufacturing and services sectors that together account for more than two thirds of the economy, fell to 51.4 from 52.6 in the previous month. '
'The German government expects overall economic growth of 0.5 percent this year and a rebound to 1.5 percent in 2020. '
'BERLIN, (Reuters) - A recession in Germany’s manufacturing sector worsened in July with the performance of goods producers dropping to the lowest level in seven years, a survey showed on Wednesday, suggesting a deteriorating growth outlook for Europe’s largest economy. '
'He blamed trade disputes, Brexit and falling demand from abroad for German cars as well as other industrial products. '
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