Bloomberg | Dec 16, 2019 08:59
(Bloomberg) -- Want the lowdown on European markets? In your inbox before the open, every day. Sign up here.
Just when German factories appeared to be exiting a year-long slump that battered the country’s economy, the sector’s contraction has worsened again.
IHS Markit’s Purchasing Managers’ Index for manufacturing unexpectedly fell to 43.4 in December, defying economists’ estimates that the number would pick up. The weakness more than offset growth in the services sector, keeping the private sector in contraction for a fourth straight month.
The euro pared its advance against the dollar and was up 0.1% at $1.1133 as of 09:34 a.m. Frankfurt time.
The data “point to a weak end to a difficult year for the German economy,” said Phil Smith, an economist at IHS Markit. “Manufacturing continues to weigh heavily on private sector output” even though slower declines in new orders and exports “provide glimmers of hope.”
Written By: Bloomberg
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
Get free real time quotes, charts and alerts on stocks, indices, currencies, commodities and bonds. Get free top of the line technical analysis/predictors.
More content, faster quotes and charts, and a smoother experience is available only on the App.