German Private Sector Downturn Deepens
Germany's private sector posted another sharp contraction in February, flash data compiled by S&P Global showed on Thursday. The composite output index dropped to a four-month low of 46.
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Germany's private sector posted another sharp contraction in February, flash data compiled by S&P Global showed on Thursday. The composite output index dropped to a four-month low of 46.
Germany's factory orders grew unexpectedly at the end of the third quarter underpinned by foreign demand, official data from Destatis showed on Monday. However, reinforcing fears of recession, Purchasing Managers' survey results suggested that the private sector contracted for the fourth straight month in October reflecting declines in both manufacturing production and services activity.
Germany's factory orders growth accelerated in February driven by higher demand for motor vehicles and automobile engines and the overall private sector expanded for the second straight month in March reflecting the upturn in the service sector.