August flash Manufacturing PMI for Germany rises to 54.1, surpassing the 52.0 estimate and signaling stronger industrial activity.
Germany’s flash Manufacturing PMI climbed to 54.1 in August, exceeding the 52.0 forecast and marking the fastest expansion since April. The uptick suggests resilience in the industrial sector despite broader economic headwinds.
The Composite PMI, however, eased to 51.0 from expectations of 51.3, weighed down by a slowdown in services. July’s Composite reading stood at 51.3, while the Manufacturing PMI was previously 52.4.
EUR/USD held near 1.1700 in European trading, supported by persistent USD weakness following mixed PMI data. Gold prices hovered above $4,550, buoyed by reduced Fed rate hike expectations after softer US inflation prints.