Latest data released by Markit/BME - 5 August 2019
- Prior 55.8
- Composite PMI 50.9 vs 51.4 prelim
- Prior 52.6
Preliminary readings can be found here. The figures here are weaker than the initial estimates with the composite reading falling to its weakest level since June 2013, inching closer towards the stagnation reading of 50.0.
Markit notes that:
"It's very early stages, but the PMI figures suggest that the economy is heading for another weak GDP performance over Q3, on the back of what is generally expected to have been a slight contraction in Q2. A further weakening of the data flow in the coming months and Germany's economy could be staring down the barrel of a mild technical recession."
The services print also hits a six-month low and that suggests possible spillover effects from the manufacturing sector, which could prove to be an issue later on in the year.
