Germany’s PMI figures are just out for November, with the overall figure at 52.1. That’s above the neutral 50 mark, but it’s also the weakest in 16 months.
Manufacturing figures from the business surveys were particularly grim: the level hit 50, indicating no growth at all, after bouncing back in October.
Services are still in growth at 52.1, but that’s the worst figure in nearly a year and a half. It’s a pretty big drop from 54.4 in October.
It’s not the first signal of an industrial slowdown in Europe’s biggest economy: Germany’s industrial output plunged in August, and September’s figure failed to make up for the slump.
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