Friday, May 24, 2019 | ePaper

German private sector growth falls to 20-month low in May

  • Print
Xinhua, Berlin :
The German private sector grew at its lowest pace in 20 months in May, a closely-watched survey showed Wednesday.
Markit's flash composite Purchasing Managers' Index (PMI) for Germany, which tracks the manufacturing and services sectors that account for more than two-thirds of the largest European economy, hit a 20-month low of 53.1 from 54.6 in April.
"The flash PMI data indicate that the recent slowdown in Germany's private sector continued into May," said Phil Smith, Principal Economist at IHS Markit, "and it was a case of slower growth across both the manufacturing and services segments of the economy."
The Flash Germany Services PMI Activity Index also fell to a 20-month low of 52.1 from 53.0 in May.
Activity in the manufacturing sector slumped as well, with the index falling to 56.8 from 58.1 a month earlier, registering the lowest rate since February 2017.
"Weaker order book growth and a further waning of business confidence point to the economy carrying a lot less underlying momentum than at the end of 2017," said Smith.
"Latest data meanwhile indicated an ill-timed resurgence in cost pressures faced by businesses, linked largely to rising oil prices," he added.

More News For this Category

Farman R Chowdhury, Managing Director of Al-Arafah Islami Bank Ltd, poses with the participants of a Two-day long training workshop on 'Financial Statement Analysis' at its Training Institute on Monday. Principal of the Institute and Executive Vice President Md. Abdur Rahim Duary, Vice President Touhid Siddique and Assistant Vice President Mohammad Mujibur Rahman were also present.

Farman R Chowdhury, Managing Director of Al-Arafah Islami Bank Ltd, poses with the participants of a Two-day long training workshop on 'Financial Statement Analysis' at its Training Institute on Monday. Principal of the Institute and Executive Vice President Md. Abdur Rahim Duary, Vice President Touhid Siddique and Assistant Vice President Mohammad Mujibur Rahman were also present.

.

Equities, pound and oil sink in Asia on trade and Brexit woes

AFP, Hong Kong :Asian equities tumbled Thursday as China-US trade frictions continue to dog investors, while the pound hit a fresh-four-month low on Brexit worries and energy firms were

Anis A. Khan, Managing Director & CEO of Mutual Trust Bank Limited is holding Payment Card Industry Data Security Standard certificate at a ceremony held at MTB Tower. Other high officials from both MTB and SSL Wireless are also seen, among others.

Anis A. Khan, Managing Director & CEO of Mutual Trust Bank Limited is holding Payment Card Industry Data Security Standard certificate at a ceremony held at MTB Tower. Other high officials from both MTB and SSL Wireless are also seen, among others.

.

ADB provides $400m loan for Ctg-Cox's Bazar rail link

Economic Reporter :Bangladesh signed a deal with the Asian Development Bank (ADB) on Thursday for a $400 million loan to connect Chattogram and Cox's Bazar by rail.Its goal is

Mashrafe becomes brand ambassador of Walton

Business Desk :Bangladesh National Team captain Mashrafe Bin Mortaza has been appointed as the brand ambassador of Walton. The popular cricket all-rounder will be involved in various promotional activities

Bank Asia gets new Vice-Chairman

Bank Asia gets new Vice-Chairman

Business Desk :Romo Rouf Chowdhury has been elected as Vice Chairman of Bank Asia at a meeting of the Board of Directors of the Bank held recently.He is one

Md. Showkat Ali Chowdhury, Chairman of the Board of Directors of Eastern Bank Ltd (EBL) presides over the 27th AGM of the Company held yesterday at Police Convention Hall in the city. EBL Directors  A.M. Shaukat Ali, Mir Nasir Hossain, Meah Mohammed Abdur Rahim, Mufakkharul Islam Khasru, Ormaan Rafay Nizam, Gazi Md. Shakhawat Hossain; Managing Director and CEO Ali Reza Iftekhar;  DMD and Company Secretary Safiar Rahman are also seen.

Md. Showkat Ali Chowdhury, Chairman of the Board of Directors of Eastern Bank Ltd (EBL) presides over the 27th AGM of the Company held yesterday at Police Convention Hall in the city. EBL Directors A.M. Shaukat Ali, Mir Nasir Hossain, Meah Mohammed Abdur Rahim, Mufakkharul Islam Khasru, Ormaan Rafay Nizam, Gazi Md. Shakhawat Hossain; Managing Director and CEO Ali Reza Iftekhar; DMD and Company Secretary Safiar Rahman are also seen.

.

DSE, CSE end nearly flat after bumpy ride

Economic Reporter :Stocks ended flat on Thursday after volatile trading as investors mostly followed cautious stance ahead of national budget and ongoing holy Ramadan.Market analysts a section of investors

Momen urges Chinese manufacturers to invest in Bangladesh

Economic Reporter :Foreign Minister Dr A K Abdul Momen on Thursday urged Hong Kong based Chinese manufacturers to invest here terming Bangladesh as an unexplored gold mine that offers

Salman urges new entrepreneurs to be updated about technology

Economic Reporter :Private Industry and Investment Adviser to the Prime Minister, Salman Fazlur Rahman urged the new entrepreneurs to enhance their knowledge with updated information of modern technologies for