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Germany’s economy is flashing yet another ‘grim’ warning after more weak data and a slump in demand

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  • Weak manufacturing data and a reduced growth forecast fanned fears of a German recession and eurozone slowdown on Thursday.
  • Germany’s manufacturing PMI inched up from 44.1 in March to 44.5 in April, but manufacturing metrics and new export orders fell and business confidence remained weak.
  • Germany cut its annual growth forecast to 0.5% on Wednesday, a sharp drop from its 2.1% forecast a year ago.
  • Composite eurozone PMI and French manufacturing PMI also declined in April.

Disappointing manufacturing data and a weaker growth outlook fanned fears of a German recession and a eurozone slowdown on Thursday.

Germany’s manufacturing purchasing managers’ index (PMI), which is read more >>>

Source:: BusinessInsider.Com