Germany’s economy is flashing yet another ‘grim’ warning after more weak data and a slump in demand
- Weak manufacturing data and a reduced growth forecast fanned fears of a German recession and eurozone slowdown on Thursday.
- Germany’s manufacturing PMI inched up from 44.1 in March to 44.5 in April, but manufacturing metrics and new export orders fell and business confidence remained weak.
- Germany cut its annual growth forecast to 0.5% on Wednesday, a sharp drop from its 2.1% forecast a year ago.
- Composite eurozone PMI and French manufacturing PMI also declined in April.
Disappointing manufacturing data and a weaker growth outlook fanned fears of a German recession and a eurozone slowdown on Thursday.
Germany’s manufacturing purchasing managers’ index (PMI), which is