German flash manufacturing PMI drops to 55.9 in June, 18-month lows

German economy grows at the weakest pace in eighteen months in June, the latest manufacturing and services activity surveys from IHS/Markit research showed.

German manufacturing purchasing managers index (PMI) fell further to eighteen-month lows in June, coming in at 55.9 while services PMI unexpectedly rebounded to 53.9 versus 52.1 last.

The IHS Markit Flash Germany Composite Output Index hit a two-month high at 54.2 in June, from May’s 53.4