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21 Feb 2019

German flash manufacturing PMI hits 74-month lows of 47.6 in Feb, a big miss

German manufacturing activity grew at the weakest pace in 74-months in February, the latest manufacturing activity report from IHS/Markit research showed this Thursday.

The German manufacturing purchasing managers index (PMI) slipped further into contraction territory and arrived at 47.6 versus 49.7 expected and 49.7 previous. Meanwhile, while services PMI climbed to a five-month high level of 55.1 as against previous month’s reading of 53.0 and 52.9 anticipated.

The IHS Markit Flash Germany Composite Output Index also climbed to 4-month tops of 52.7 in February, up from 52.1 in January.

Feb 21, 2019

Germany Markit Services PMI registered at 55.1 above expectations (52.9) in February

Gold corrects farther from 10-month tops, slides to session lows near $1335 level

• The latest FOMC meeting minutes provided a lift to the USD and prompts some profit-taking. • Uncertainty over US-China trade talks underpins