The German manufacturing sector contracted more than expected in July

In Germany, the Purchasing Managers’ Index (PMI) contracted to 38.8 in July, more than expected.

S&P Global announced the main German PMI data for July.

Consequently, the manufacturing PMI in Germany fell to 38.8 in July, below the forecast of 41. The manufacturing PMI, which was measured at a 38-month low in July, was 40.6 in the previous month.

In the PMI data, industry growth above 50 is interpreted as industry contraction below this level.

THE WEAKEST 5-MONTH PERFORMANCE IN THE SERVICES INDUSTRY

In the S&P Global statement, it was indicated that the PMI of the services sector in Germany, for its part, decreased to 52 in July, exhibiting its weakest performance in the last 5 months.

The expectation was that the data would materialize at 53.1.

In the previous month, the PMI of the service sector in the country was measured at 54.1. (AA)