Markets

Germany Markit/BME manufacturing PMI May flash 52.4 vs 52.0 exp

Provisional German PMI May data now out 23 May 2016

  • 51.8 prev
  • services 55.2 vs 54.6 exp vs 54.5 prev
  • composite 54.7 vs 53.9 exp vs 53.6 prev

All decent readings and providing the euro with support.

Says Markit:

  • May data signalled the first acceleration in German private sector activity growth in 2016 so far. This was highlighted by the Markit Flash Germany Composite Output Index rising from April's 53.6 to a five-month high of 54.7.
  • Manufacturers and service providers both reported stronger growth which some survey respondents attributed to the processing of backlogs and increased new orders. Although output rose at a sharper rate, some firms struggled to secure new business wins amid an increasingly challenging demand environment.
  • Latest data showed the rate of growth in new work falling to a ten-month low, although the latest expansion was still stronger than the long-run average for this series.

Full Markit report here

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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