German manufacturing recession deepens in September - PMI
BERLIN - Germany’s manufacturing recession deepened in September with factories recording their weakest performance since the world financial crisis a decade ago, a survey showed on Tuesday.
Germany’s export-reliant manufacturers are suffering from a slowing world economy and business uncertainty linked to a trade dispute between the United States and China as well as Britain’s planned but delayed exit from the European Union. The job losses in manufacturing broadened in September, reaching a scale at which they could start to weigh more heavily on so far relatively resilient consumer morale, Smith said.
The institutes expect the German economy to grow by 0.5% this year and by 1.1% in 2020, sharply down from their April forecasts of 0.8% and 1.8% respectively, the sources said.
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
German Film & TV Group Leonine Hires Christiane Goldberg As SVP SalesLeonine, the German media conglomerate backed by New York investment outfit KKR, has appointed Christiane Goldberg as Senior Vice President Sales. Goldberg joins the company on October 1 and will r…
Read more »
Dollar gains before manufacturing data, euro crumbles on German inflationThe U.S. dollar traded near its highest in almost two weeks versus the yen befor...
Read more »
German Investor Buys $43 Million L.A. Spec MansionL.A.’s high-end real estate market may be in the doldrums overall, but the super-sized deals keep recording. This time, billionaire British property developers Ian and Richard Livingstone hav…
Read more »
Volkswagen rejects judge's call to settle German class action on emissionsVolkswagen on Monday rejected a German judge's call to settle a customer cl...
Read more »
A Beginner's Guide to German Beer StylesOur quick and handy guide to a few of the German beer styles you'll likely run into at your local shop.
Read more »
German economy set for weaker growth, but still showing bright spotsGermany's leading economic institutes have lowered their growth forecast fo...
Read more »