Germany’s Private Sector Contracts for 2nd Month as May Composite PMI Stays at 48.6
Updated
Updated · Bloomberg · May 21
Germany’s Private Sector Contracts for 2nd Month as May Composite PMI Stays at 48.6
3 articles · Updated · Bloomberg · May 21
Germany’s private-sector activity shrank again in May, with S&P Global’s composite PMI rising only marginally to 48.6 from 48.4 and remaining below the 50 line that marks expansion.
That second straight month of contraction adds to signs Europe’s largest economy is being hit by knock-on effects from the Iran war.
Analysts had expected a slight increase, but the reading still signaled overall business activity was contracting rather than recovering.
The data heightens the risk that external geopolitical shocks are starting to weigh more broadly on German growth.
As the Iran war chokes global oil, is Germany’s recession the first domino to fall in a new world economic crisis?
The Iran war is crippling Europe's economy. Who are the unexpected winners in this global energy chess game?
With the Strait of Hormuz blockaded, will Europe's energy crisis fuel a green revolution or a deeper economic collapse?