New data HCOB Manufacturing PMI (Sep)
10/1/2024
actual 40.6, previous 42.4
The event is the HCOB Manufacturing PMI (Purchasing Managers' Index) for September in Germany. The actual PMI value reported is 40.6, which is a decrease of 1.8 points from the previous month. The impact of this event is considered high, as the PMI is a key indicator of the economic health of the manufacturing sector.A PMI value below 50 typically indicates a contraction in the manufacturing sector, so the decrease from the previous month's value of 42.4 to 40.6 suggests a further slowdown in manufacturing activity in Germany. This could have implications for the overall economic performance of the country, as the manufacturing sector is an important driver of economic growth.
Overall, this event signals a challenging environment for the manufacturing sector in Germany, which could potentially impact other sectors of the economy as well.
This is not investment advice. Remember to verify the information provided here.
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