Another Sign That The German Economy Has Cracked

This has been our theme of the past few weeks: The German economy is finally beginning to crack.

Throughout the crisis the strength of the German economy has been remarkable, especially given that it’s an export nation watching all of its peers fall all around it.

But that could only last so long.

Latest evidence: The latest services PMI report unexpectedly fell from 51.8 in May to 49.9 in June, signifying worsening conditions.

Here’s the main chart from Markit….

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Photo: Markit

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