The German manufacturing sector contraction deepened in October, the latest manufacturing activity report from IHS/Markit research showed this Thursday. The German manufacturing purchasing managers index (PMI) remained firmly in contraction territory at 41.9 in October. This represented a marginal improvement from September’s ten-year low of 41.7, though fell short of consensus estimates pointing to a reading of 42.0. Meanwhile, the rate of growth of service sector business activity eased to just over three-year low level of 51.2 during the reported month. The IHS Markit Flash Germany Composite Output Index came in at a two-month high level of 48.6 in October vs. September’s 48.5 and 48.8 expected. The data quickly negated the optimism led by a bounce in French PMIs and exerted some downward pressure on the shared currency, forcing the EUR/USD pair to trim a part of its early strong gains to levels beyond mid-1.1100s. FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next Euro-zone Flash Manufacturing PMI unchanged at 45.7 in October vs. 46.0 expected FX Street 3 years The German manufacturing sector contraction deepened in October, the latest manufacturing activity report from IHS/Markit research showed this Thursday. The German manufacturing purchasing managers index (PMI) remained firmly in contraction territory at 41.9 in October. This represented a marginal improvement from September's ten-year low of 41.7, though fell short of consensus estimates pointing to a reading of 42.0. Meanwhile, the rate of growth of service sector business activity eased to just over three-year low level of 51.2 during the reported month. The IHS Markit Flash Germany Composite Output Index came in at a two-month high level of 48.6… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
