Friday, August 17, 2018 | 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

China online sales of home appliances rise in H1

Xinhua, Beijing :Online sales of home appliances in China registered fast growth in the first half of the year amid the country's e-commerce boom, a report showed.Total online sales

China to widen foreign access to A-shares

AFP, Shanghai :China's securities regulator said it will allow individual foreign investors working in the country to buy and sell yuan-dominated Chinese A-shares, the latest incremental step by Beijing

Syed Waseque Md. Ali, Managing Director of First Security Islami Bank Limited and Abda Hamid, CEO of Max Money SDN BHD (Malaysia), shaking hands after signing an agreement at SDN BHD head office in Kuala Lumpur recently. Under the deal, expatriates can send their remittance through the company to the Bank branches and agent banking locations favouring their beneficiaries in the form of cash pick up or account credit.

Syed Waseque Md. Ali, Managing Director of First Security Islami Bank Limited and Abda Hamid, CEO of Max Money SDN BHD (Malaysia), shaking hands after signing an agreement at SDN BHD head office in Kuala Lumpur recently. Under the deal, expatriates can send their remittance through the company to the Bank branches and agent banking locations favouring their beneficiaries in the form of cash pick up or account credit.

.

Turkey seeks to soothe markets over tensions with US

AFP, Istanbul :Turkey's finance minister Berat Albayrak will seek to soothe the markets about the lira's dramatic fall in the wake of escalating tensions with the United States via

UK annual inflation accelerates to 2.5% in July

AFP, London :Britain's inflation rate accelerated last month on higher transport costs, as workers' wages continued to lose purchase power, official data showed Wednesday.The Consumer Prices Index (CPI) 12-month

Md. Ataur Rahman Prodhan, Managing Director of Rupali Bank Limited, placing the floral wreaths at the portrait of Bangabandhu Sheikh Mujibur Rahman on the occasion of National Mourning Day at the city's Dhanmondhi Road No. 32 on Wednesday. Deputy Managing Director Mohammad Jahangir Alam, General Manager Kaisul Haque, Arun Kanti Paul, Saida Khatun, Jakia Sultana, Khan Iqbal Hossain and other employees of the bank were present at that time.

Md. Ataur Rahman Prodhan, Managing Director of Rupali Bank Limited, placing the floral wreaths at the portrait of Bangabandhu Sheikh Mujibur Rahman on the occasion of National Mourning Day at the city's Dhanmondhi Road No. 32 on Wednesday. Deputy Managing Director Mohammad Jahangir Alam, General Manager Kaisul Haque, Arun Kanti Paul, Saida Khatun, Jakia Sultana, Khan Iqbal Hossain and other employees of the bank were present at that time.

.

Nasrul Hamid, State Minister for Power, Energy and Mineral Resources, addressing the seminar on

Nasrul Hamid, State Minister for Power, Energy and Mineral Resources, addressing the seminar on "An overview of Nuclear Energy and Development status of Innovative Reactors" organized by Bangladesh Energy and Power Research Council (EPRC) at Biddut Bhaban in the city on Thursday. Mohammad Ali Julkarnine, ex Chairman of Bangladesh Atomic Energy Commission and Dr MA Rashid, retired Professor of BUET presented jointly the keynote paper. Dr. Tawfiq-e-Elahi Chowdhury, Energy Adviser to Prime Minister was also present.

.

Uber narrows loss

Uber narrows loss

Reuters :Uber Technologies Inc said on Wednesday it narrowed its quarterly losses from a year earlier, although the ride-hailing company is still a long way from proving it can

Walton glass door deep fridge getting huge response

Business Desk :Deep fridges as well as Tempered Glass Door frost fridges of the country's electronics giant 'Walton' have been turned into the customers' top choices in the following

Tawfiq for setting small power plants by using modular reactors

Tawfiq for setting small power plants by using modular reactors

Economic Reporter :Prime Minister's Power, Energy and Mineral Resources Adviser Dr Tawfiq-e-Elahi Chowdhury, Bir Bikram, on Thursday urged the Science and Technology Ministry to look into whether small power