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The German manufacturing weakness is....>

GERMAN DATA
GERMAN DATA: The German manufacturing weakness is an export-led contraction.
- From the press release:
- New export orders "fell at the second-fastest rate in the past ten years.
Anecdotal evidence highlighted weak demand across the automotive sector in
particular, whilst also suggesting some hesitancy among UK based clients.
Inflows of new work from abroad also fell across the service sector. Moreover,
with the rate of decline accelerating since March, it meant that overall new
export business posted the steepest decline since comparable data covering both
manufacturing and services were first available in September 2014."
- Also backlog of work lowest since June 2013.
- Marginal rebound but still very weak datapoint here.

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