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German private sector economy slips deeper into contraction in September as increased energy costs bite
Latest ‘flash’ PMI® data from S&P Global showed a deepening decline in business activity across Germany’s private sector economy at the end of the third quarter. Amid a backdrop of persistently high inflation, economic uncertainty and increasedenergy costs, firms recorded a substantial reduction in demand and revised down their expectations for future output to the lowest since the first wave of the COVID-19 pandemic. Inflationary pressures meanwhileintensified. The headline S&P Global Flash Germany PMI Composite Output Index registered in sub-50 contraction territory for the third straight month in ... (full story)
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- Posted: Sep 23, 2022 3:32am
- Submitted by:Category: Low Impact Breaking NewsComments: 0 / Views: 1,027
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