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German PMI a bit better than exp, but...>

GERMAN DATA
GERMAN DATA: German PMI a bit better than exp, but the details look weak on an
initial reading. New orders fell, export demand soft, expectations soft and
inflation weak.
- Highlights from the press release:
- "External demand remained particularly weak, with new orders from abroad
falling across both monitored sectors."
- "For the first time in almost five years, the number of firms expecting output
to fall over the next 12 months exceeded those predicting a rise, with sentiment
the most negative overall since November 2012"
- "With the weakness in manufacturing prevailing, input cost inflation was at a
38-month low, while output charges showed the smallest rise since October 2016."

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