Sehr Schlecht! German Economy Hit The Skids In August

The German purchasing managers’ index, a reflection of business sentiment, last month showed its lowest reading since October 2012. And sentiment among manufacturers took the biggest hit, posting its lowest level of factory activity since the depths of the financial crisis, according to IHS Markit. According to IHS Markit, the flash reading for the purchasing managers’ index for September, across all sectors of the economy, was at 49.1, down from 51.7 August.