BERLIN – German business activity contracted at the fastest pace for more than three years in August, a preliminary survey showed on Wednesday. The HCOB German Flash Composite Purchasing Managers' Index (PMI), compiled by S&P Global, fell to 44.7 from July's 48.5, hitting its lowest since May 2020 and confounding analysts' expectations for a reading of 48.3. ADVERTISEMENT The indicator was below the 50 level denoting growth in activity for the second consecutive month. The composite PMI index tracks the services and manufacturing sectors, which together account for more than two-thirds of Germany's economy.

https://business.inquirer.net/417375/german-business-activity-suffers-steepest-decline-since-may-2020-flash-pmi

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