Falling exports and strong inflation taking a toll on German economy, with outlook looking increasingly gloomy

Falling exports and strong inflation taking a toll on German economy, with outlook looking increasingly gloomy

From pmi.spglobal.com

Latest ‘flash’ PMI® data from S&P Global showed a sharp loss of momentum in the German economy at the end of the second quarter. Falling exports acted as a drag, while there were also signs of domestic demand coming under pressure from heightened economic uncertainty and sustained strong inflation. Firms’ expectations towards future activity slumped to their lowest since the first wave of the COVID pandemic over two years ago, with manufacturers growing increasingly pessimistic about the outlook. The headline S&P Global Flash Germany PMI Composite Output Index fell for the fourth month in a row in June, ... (full story)

- Older Stories
French growth slumps to weakest since peak Omicron disruption at start of 2022
From pmi.spglobal.com|Jun 23, 2022|1 comment
The French economy endured a marked slowdown in growth at the end of the second quarter, with private sector business output rising at the slowest rate since the wave of ...
G-7, NATO leaders to highlight China challenge, pressure Russia: U.S.
From english.kyodonews.net|Jun 23, 2022
The Group of Seven industrialized nations are expected to step up efforts to address China's "coercive economic practices" when their leaders meet in Germany later in June, while ...
Public sector finances, UK: May 2022
From ons.gov.uk|Jun 23, 2022
Public sector net borrowing excluding public sector banks (PSNB ex) was £14.0 billion in May 2022, the third-highest May borrowing since monthly records began in 1993; this was ...

- Newer Stories
Eurozone growth slows sharply to 16-month low in June as demand stalls and price surge continues
From pmi.spglobal.com|Jun 23, 2022|1 comment
Eurozone economic growth deteriorated sharply to a 16- month low in June, according to preliminary PMI data, reflecting a stalling of demand growth. Manufacturing output ...
Hudbay ceases production at its 777 copper-zinc-gold mine in Manitoba due to depletion of reserves
From kitco.com|Jun 23, 2022
Hudbay Minerals (TSX: HBM) today announced that mining activities at the company's 777 copper-zinc-gold-silver mine in Flin Flon, Manitoba, have concluded after the reserves were ...
UK business expectations slump to weakest since May 2020 as new order growth loses considerable...
From pmi.spglobal.com|Jun 23, 2022|1 comment
June data indicated that output growth across the UK private sector was unchanged from the 15-month low seen in May. Resilient business activity trends were seen across the ...