The German July flash PMI data:
- Manufacturing: Actual 38.8, Expected 41, Previously: 40.6
- Services: Actual 52, Expected 53.1, Previously: 54,1
Manufacturing PMI for July was significantly lower than expected, coming in at a very low value of 38.8 versus the expected 41 indicating a significant contraction in the sector.
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Open real account TRY DEMO Download mobile app Download mobile app- The services sector, although missing July estimates, is somewhat offsetting the downturn in manufacturing.
- The German economy has entered contraction territory at the start of Q3 due to these factors, leading to a drop in the euro and regional bond yields.
EURUSD, M15 interval, source xStatio 5
