Germany's economy shows no rebound in Q3, flash PMI falls to 48.5, raising recession concerns.
Germany's business activity declined for the second consecutive month in August, with the preliminary flash composite PMI dropping to 48.5 from 49.1 in July. This signals that the country's economy has not rebounded in the second half of the year, and the odds of a second quarter of negative growth have increased, raising recession concerns. Manufacturing PMI fell to 42.1, and services PMI decreased to 51.4, indicating weakening sectors and a potential return to discussing a recession in Germany.
August 22, 2024
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