German flash manufacturing PMI slips to 43.1 in July, EUR/USD hits fresh 2-yr lows

German manufacturing activity recorded the worst performance in seven years in the month of July, the latest manufacturing activity report from IHS/Markit research showed this Wednesday.

The German manufacturing purchasing managers index (PMI) arrived at 43.1 versus 45.0 expected and 45.2 previous. Meanwhile, services PMI hit a two-month low level of 55.4 as against previous months reading of 55.8 and 55.3 anticipated.

The IHS Markit Flash Germany Composite Output Index came in at 4-month lows of 51.4 in July vs. June’s 52.6 and 52.3 expectations.