German PMI at the lukewarm 51 while French show more enthusiasm

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Economic activity in German industry increased in July. That is clear from definitive figures from the British market researcher Markit. At a provisional figure, there was no shrinkage, but there was no growth to report.

The Purchasing Manager Index for the German industry reached a stand of 51. A figure above 50 indicates an increase in activity, below which there is a decrease. At the provisional figure the index was at the neutral position 50.

French industry showed a little more growth than expected: 52.4 against the 52 forecast by economists. The figures for Spanish and Italian industry were also better than expected with stocks of 53.5 and 51.9 respectively.

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Oliver I. Kjeldsen

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