That was a big downward surprise in.....>

GERMAN DATA: That was a big downward surprise in German PMI manufacturing, with

the index falling to a 74-month low.

Highlights from the press release:

- "As well as the contraction in output, the fall in the headline manufacturing

index also reflected negative contributions from the new orders, stocks of

purchases and supplier delivery times components, with the latter showing the

first decrease in input lead times for almost three years in February. "

- In the "manufacturing sector, where order books showed the steepest fall for

six and-a-half years amid a further sharp drop in exports. Surveyed businesses

continued to report lower orders from the autos sector, whilst also highlighting

a fall in demand from Asia (in particular China) linked to ongoing trade

tensions and growing competitive pressures within Europe."