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German business activity falls again and job cuts deepen as firms come under increasing pressure from rising costs
Business activity fell for a second consecutive month across the German private sector economy in May amid a backdrop of weakening demand and elevated inflationary pressures, the latest ‘flash’ S&P Global PMI® survey showed. The downturn continued to be led by the service sector, although there was a stalling of the manufacturing sector as factory orders fell back into decline. Firms reported a further intensification of cost pressures midway through the second quarter, with manufacturers and services firms alike facing accelerating rates of input price inflation. Average prices charged by businesses rose ... (full story)
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