German Fundamentals Disappoints, Heightening Fears of a Deep and Severe Recession

Daily Forex Fundamentals | Written by DailyFX | Nov 21 08 09:23 GMT |

The advanced services PMI reading for Germany contracted for the second consecutive month as the index slipped to 46.2 from 48.3 in October. Meanwhile the manufacturing activity contracted for the fourth straight month as the PMI reading slipped to 36.7 from 42.9. The data suggests that Europe’s largest economy is slowing at an even faster pace in the fourth quarter, and conditions may only get worse over the coming months as demands from home and abroad deteriorate. The dour outlook for Germany has certainly raised expectations that the European Central Bank will ease policy further at the December 4th policy meeting. DailyFX Disclaimer Investment in the currency exchange is highly speculative and should only be done with risk capital. Prices rise and fall and past performance is no assurance of future performance. This website is an information site only. Accordingly we make no warranties or guarantees in respect of the content. The publications herein do not take into account the investment objectives, financial situation or particular needs of any particular person. Investors should obtain individual financial advice based on their own particular circumstances before making an investment decision on the basis of the recommendations in this website. While we try to ensure that all of the information provided on this website is kept up-to-date and accurate we accept no responsibility for any use made of the information provided. All intellectual property rights are the property of Daily FX. Daily FX and its affiliates, will not be held responsible for the reliability or accuracy of the information available on this site. The content herein is provided in good faith and believed to be accurate, however, there are no explicit or implicit warranties of accuracy or timeliness made by Daily FX or its affiliates. The reader agrees not to hold Daily FX or any of its affiliates liable for decisions that are based on information from this website. Daily FX highly recommends that before making a decision, the reader collects several opinions related to the decision and verifies facts from at least several independent sources.