Germany's Economic Growth Slows, Manufacturing Shrinks

Germanys economic growth slows down as manufacturing sector contracts and service sector growth falters, marking a two-month low for the countrys economic health. The flash composite Purchasing Managers Index dropped to 52.1 in November, with the manufacturing index falling further into contraction territory. New orders in manufacturing, particularly for exports, saw their fastest decline since January, leading to job losses. The services index also fell to 52.7, another two-month low, indicating a slowdown in manufacturing and disappointment in service sector growth. The German economy is expected to grow only marginally in the fourth quarter, with a moderate recovery by the end of the year.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.