June flash PMI data shows Germany’s manufacturing sector flatlining at the expansion threshold, while services and composite readings contract further.
Germany’s flash HCOB Manufacturing PMI held at 50.0 in June, unchanged from expectations but down from May’s 50.1. The reading marks the boundary between growth and contraction in factory activity.
The composite PMI fell to 48.0 from 48.8, missing forecasts of 49.9, as services activity dropped to 46.8 from 48.1. Analysts had anticipated a slower decline to 48.7.
EUR/USD slipped 0.1% to 1.1418 following the release, nearing a 10-month low of 1.1411.