German manufacturing sector contracted
The German manufacturing sector contracted in January, The Manufacturing PMI in the Eurozone’s economic powerhouse was 47.0 this month, compared to December reading of 47.1, despite inflation remained low, according to the preliminary manufacturing activity report released by S&P Global/BME research on Tuesday. . The index has fallen to two-month lows.
Meanwhile, the Services PMI increased from 49.2 in December to 50.4 in January, .The PMI reached its highest point in seven months. The S&P Global/BME Preliminary Germany Composite Output Index was 49.7 in January, up from 49.0 in December. The index touched a seven-month high.
| Sector | Last | Previous | Unit | Month |
|---|---|---|---|---|
| Services PMI | 50.40 | 49.20 | points | Jan 2023 |
| Manufacturing PMI | 47.00 | 47.10 | points | Jan 2023 |
| Composite PMI | 49.70 | 49.00 | points | Jan 2023 |
Table Source: www.tradingeconomics.com
