German economy grows at the weakest pace in eighteen months in June, the latest manufacturing activity report from IHS/Markit research showed. German manufacturing purchasing managers index (PMI) fell further to eighteen-month lows in June, coming in at 55.9 while services PMI unexpectedly rebounded to 53.9 versus 52.1 last. The IHS Markit Flash Germany Composite Output Index hit a two-month high at 54.2 in June, from May’s 53.4 Key comments from Phil Smith, Principal Economist at IHS/Markit: “The headline PMI numbers for Germany make for slightly better reading in June thanks to a pick-up in the pace of expansion in the service sector, though the performance over the second quarter as a whole still looks to be one of only modest growth.” “The big disappoint was manufacturing, where the PMI fell further from last December’s record high to the lowest in one-and-a-half years. A worrying slide in export order growth seen since the start of the year continued into June, with the latest survey’s anecdotal evidence highlighting quieter client interest from the US and China.” “A clear divergence between manufacturing and services was also seen in the survey’s gauge of business confidence. Services firms are in buoyant mood towards the outlook over the next 12 months, but manufacturers see growth continuing to cool and are their least optimistic for over three years.” 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 Gold clings to modest recovery gains, around $1270 level FX Street 5 years German economy grows at the weakest pace in eighteen months in June, the latest manufacturing activity report from IHS/Markit research showed. German manufacturing purchasing managers index (PMI) fell further to eighteen-month lows in June, coming in at 55.9 while services PMI unexpectedly rebounded to 53.9 versus 52.1 last. The IHS Markit Flash Germany Composite Output Index hit a two-month high at 54.2 in June, from May's 53.4 Key comments from Phil Smith, Principal Economist at IHS/Markit: "The headline PMI numbers for Germany make for slightly better reading in June thanks to a pick-up in the pace of expansion in the… 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.