The S&P Global Purchasing Managers’ Index Manufacturing PMI for September falls to 47.8 points in Alamina from the 48.3 points registered the previous month. The market expectation was that it would remain unchanged.
The index falls to its lowest level since the 45.2 points registered in July 2020.
About the German Manufacturing PMI
The Manufacturing Purchasing Managers’ Index (PMI) captures business conditions in the manufacturing sector. As the manufacturing sector dominates a large part of the total GDP, the PMI is an important indicator of business conditions and economic conditions in Germany. A reading above 50 points indicates expansion in economic activity, while a reading below 50 points implies a decrease in activity. A result higher than expected is bullish for the euro, while a result lower than the consensus is bearish.
Source: Fx Street
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