Reported about 2 months ago
German business activity continued to contract in August for the second month in a row, with the HCOB Purchasing Managers' Index dropping to 48.5 from 49.1 in July, signaling further weakness in the economy. This decline suggests persistent challenges in the manufacturing sector, which remains in a downturn, while the services sector has also shown signs of slowing down. Analysts warn that the likelihood of a second consecutive quarter of negative growth is increasing, raising concerns of a potential recession.
Source: YAHOO