Germany: Disappointing PMI data for October - TDS

Analysts at TD Securities explain that the German PMI data for October disappointed significantly, with the composite index falling to 52.7 from 55.0 in September.

Key Quotes

“Both the Services and Manufacturing components fell sharply, with manufacturers noting weak order books, weak demand for exports, and elevated uncertainty on the back of geopolitical tensions.”

“The French PMI was more balanced (rising to 54.3), with manufacturing weaker than expected but services jumping nearly a full point to 55.6.”