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Germany July final services PMI 52.3 vs 52.0 prelim

Prior 54.1Composite PMI 48.5 vs 48.3 prelimPrior 50.6It's a mild revision higher to the initial estimate but it isn't of much comfort as the manufacturing sector in Germany slumped by even more. That is leading to a contraction in the economy in July as demand conditions are seen worsening further. HCOB notes that:"There is some fear among services companies that employees might be twiddling their thumbs soon, as incoming business deteriorated considerably in July. This corresponds to a plunge i... Read More

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Content Topics

Germany

July

Final

Services

52 Prelim

Forex

Posted: Aug 3 2023, 07:55

Author Name: forexlive

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