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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.
GERMAN DATA
MNI (London)
The May flash PMI data showed a stronger divergence between contractionary manufacturing activity and robust service-sector expansion.
- The German flash manufacturing PMI recorded a deepened downturn in May, declining by 1.6 points to 42.9 (a 3-year low) against expectations of a 0.5-point uptick. Meanwhile services strengthened by 1.8 points to 57.8 (21-month high), against expectations of a 1pp decline.
- Business confidence cooled to a five-month low, with reliance on work backlogs cited as supporting current production levels.
- Manufacturing output returned to contraction, declining at the steepest rate since November, with new orders falling at the quickest pace in six months. The slump in Chinese manufacturing in Q2 added to downtrodden growth outlooks for the sector.
- Job creation eased only slightly, remaining historically high, largely boosted by services jobs.
- Similarly to France, service sector charging prices rose in May, adding to concerns of persistent services inflation in the bloc. This was despite services input inflation cooling to a two year low.
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.
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