Free Trial

GERMAN DATA: Weakest Manufacturing Reading In 12 Months - Sep Flash PMI

GERMAN DATA

The German flash manufacturing PMI printed its lowest since September 2023 at 40.3 (vs 42.3 cons, 42.4 prior). Services remained in expansionary territory at 50.6, but consensus had expected a stronger 51.0 print (vs 51.2 prior). 

Like the French flash reading, the report noted a softening of inflationary pressures. Combined with the weak activity outlook, this may tempt some dovish ECB policymakers into favouring a faster-than-quarterly pace of rate cuts. 

Keep reading...Show less
204 words

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.

The German flash manufacturing PMI printed its lowest since September 2023 at 40.3 (vs 42.3 cons, 42.4 prior). Services remained in expansionary territory at 50.6, but consensus had expected a stronger 51.0 print (vs 51.2 prior). 

Like the French flash reading, the report noted a softening of inflationary pressures. Combined with the weak activity outlook, this may tempt some dovish ECB policymakers into favouring a faster-than-quarterly pace of rate cuts. 

Keep reading...Show less