In October the German composite PMI registered below the 50 no-change level for the second time in a row, signaling a further contraction in economic activity.
No sign of recovery or even stabilization. In July, the mood in the German economy recorded another sharp decline and fell to its lowest level since spring 2013.
Thanks to gains in the production of capital and consumer goods, seasonally adjusted industrial production in May rose by 0.9% compared with the previous month.
Bad news for German industry: New orders in the manufacturing sector contracted sharply in May, falling by a seasonally adjusted 2.2% compared to the previous month.
The consolidation of Eurozone public finances has made good progress in recent years, with the average fiscal deficit falling to a record low in 2018. But the legacy of the European debt crisis still looms large.
