S & P Global's July 22nd German Purchasing Managers' Index (PMI) preliminary figures were unexpectedly below 50, the turning point between the boom and bust. Inflationary pressure and supply chain turmoil weighed on it.
Service industry PMI was 49.2, down from 52.4 last month. The manufacturing PMI was 49.2, down from 52.0 last month.
Market expectations were 51.2 and 50.6, respectively.
The total PMI for the manufacturing and service industries is 48.0, the lowest in the past two years. Last month it was 51.3. If confirmed by the confirmed value, it will fall below 50 for the first time since December last year.
"The German economizing has joined a demure domain for the first time this year due to different headwinds in July behind deregulation of the"coronavirus increased development," said Phil Smith, economics director at S & P Global Market Intelligence. It was pointed out.
"Private sector activity has been the worst since the spring of 2020, when the new Corona first raged," he said, citing the Ukrainian war, supply delays, uncertainty, and inflationary pressures associated with inflation.
"It's no surprise that corporate anticipations have dropped into the opposing region for the first time in the ex two years or so."
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