7/1, 9:55 AM (Source: TeleTrader)
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Germany's manufacturing PMI lowest in almost 2 years

The German manufacturing PMI stood at 52.0 in June, the S&P Global revealed in its report on Friday. The figure fell down from the previous 54.8 recorded in the month prior and marks the lowest reading in almost two years.

The figure stayed above the neutral 50, owing to "its employment, stocks of purchases and supplier delivery times components," the report noted. Both new orders and output levels in the country fell in June, with the former going below 50, into the contraction territory.

"The data for the three months to June pointed to the sector's weakest quarterly trend in production for two years," Economics Associate Director at S&P Global Phil Smith noted. He added, however, that "we're starting to see some relief on the inflation front, with rates of increase in both input costs and output prices slowing down for a second straight month."

Baha Breaking News (BBN) / AY