- Analytics
- News and Tools
- Market News
- Business activity in Germany fell sharply in March - IHS Markit
Business activity in Germany fell sharply in March - IHS Markit
According to the latest 'flash' PMI survey data from IHS Markit, business activity in Germany fell sharply in March, led by a record contraction in the country's service sector.
The headline Flash Germany Composite PMI Output Index plunged from 50.7 in February to 37.2, its lowest since February 2009. The preliminary data were based on responses collected between March 12-23.
The sharp drop in activity in March was driven by the service sector, where businesses highlighted the impact of efforts to contain the spread of the coronavirus disease 2019 (COVID-19). The Flash Germany Services PMI Activity Index came in at 34.5, its lowest since data collection for the service sector started in June 1997.
Data also showed a deepening downturn in the manufacturing sector. Production fell sharply and at the joint-fastest rate since early-2009 (matching the rate of decline seen in July 2012, at the depths of the eurozone debt crisis). The headline Flash Germany Manufacturing PMI sank to 45.7, though it was supported somewhat by a further increase in supplier delivery times - the most marked since July 2018 - and a noticeably slower fall in stocks of purchases, both linked to supply-side disruption.
© 2000-2024. All rights reserved.
This site is managed by Teletrade D.J. LLC 2351 LLC 2022 (Euro House, Richmond Hill Road, Kingstown, VC0100, St. Vincent and the Grenadines).
The information on this website is for informational purposes only and does not constitute any investment advice.
The company does not serve or provide services to customers who are residents of the US, Canada, Iran, The Democratic People's Republic of Korea, Yemen and FATF blacklisted countries.
Making transactions on financial markets with marginal financial instruments opens up wide possibilities and allows investors who are willing to take risks to earn high profits, carrying a potentially high risk of losses at the same time. Therefore you should responsibly approach the issue of choosing the appropriate investment strategy, taking the available resources into account, before starting trading.
Use of the information: full or partial use of materials from this website must always be referenced to TeleTrade as the source of information. Use of the materials on the Internet must be accompanied by a hyperlink to teletrade.org. Automatic import of materials and information from this website is prohibited.
Please contact our PR department if you have any questions or need assistance at pr@teletrade.global.
Bank transfers
