- January 24, 2023
- Posted by: Stratford Team
- Category: Economy
BERLIN, Jan 24 (Reuters) – Pressure on the German economy eased further in January as inflation slowed and businesses looked to the new year with optimism, a preliminary survey showed on Tuesday, although sentiment was still shy of predicting a return to growth.
S&P Global’s flash composite Purchasing Managers’ Index (PMI), which tracks both the manufacturing and services sectors that together account for more than two-thirds of Germany’s economy, rose for the third consecutive month, to 49.7 in January from 49.0 in December.
A Reuters poll of analysts had pointed to a reading of 49.6.
January marked the seventh consecutive month in which the indicator lagged below the 50 level, which separates growth from contraction.
While the euro zone composite PMI returned to growth territory in January, rising to 50.2 from 49.3 in December, France and Germany remained below 50.
“The composite PMI for Germany, which due to its large manufacturing sector initially…