Germany, Europe manufacturing at almost depressionary levels NEWS RELEASE
MARKET SENSITIVE INFORMATION
Embargoed until 0930 CEST (0730 UTC) 23 August 2023
HCOB Flash Germany PMI®
German business activity falls at fastest rate since May 2020
Key findings:
HCOB Flash Germany Composite PMI Output Index(1) at 44.7 (July: 48.5). 39-month low.
HCOB Flash Germany Services PMI Business Activity Index(2) at 47.3 (July: 52.3). 9-month low.
HCOB Flash Germany Manufacturing PMI Output Index(4) at 39.7 (July: 41.0). 39-month low.
HCOB Flash Germany Manufacturing PMI(3) at 39.1 (July: 38.8). 2-month high.
Data were collected 10-21 August
German business activity suffered the steepest decline for more than three years in August, according to latest
German business activity suffers steepest decline since May 2020
BERLIN, Aug 23 (Reuters) - German business activity contracted at the fastest pace for more than three years in August, a preliminary survey showed on Wednesday.
The HCOB German Flash Composite Purchasing Managers' Index (PMI), compiled by S&P Global, fell to 44.7 from July's 48.5, hitting its lowest since May 2020 and confounding analysts' expectations for a reading of 48.3.
The indicator was below the 50 level denoting growth in activity for the second consecutive month.