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.
Good news for Germany’s industrial outlook: New orders in the manufacturing sector rose in April by a seasonally adjusted 0.3% compared to the previous month, meanwhile the value for the month of March was corrected upwards slightly (0.8%).
