German Preliminary Manufacturing PMI unexpectedly jumps to 49.9 in August vs. 48.8 expected
The German manufacturing sector contraction continued to ease in August while the services sector expansion faltered, the preliminary business activity report published by the HCOB survey showed on Thursday.
The HCOB Manufacturing PMI in the Eurozone’s economic powerhouse jumped to 49.9 in August, as against July’s 49.1, beating the market consensus of 48.8. The measure hit a 38-month high.
Meanwhile, Services PMI dipped to 50.1 in August from 50.6 in July. Markets expected a 50.3 print in the reported period. The gauge reached a two-month bottom.
Source: FXstreet