Arab Today, arab today german manufacturing weakens growth cut
Last Updated : GMT 02:14:28
Arab Today, arab today
Arab Today, arab today

German manufacturing weakens, growth cut

Arab Today, arab today

Arab Today, arab today German manufacturing weakens, growth cut

Berlin - UPI

Manufacturing in eurozone giant Germany weakened in October, pushing the 17-nation economic and monetary union into further decline, a survey indicated. The German Purchasing Managers' Index fell to 45.8 in October, its lowest reading since June 2009, down from 46.1 in September, London-based Markit Economics said. The index drop was due in large part to a sharp fall in the automobile sector and exports to southern Europe, including Spain and Italy, struggling with a sovereign-debt crisis, the survey indicated. Germany's $3.4 trillion economy is export-driven. Manufacturing and services activity taken together dropped to 48.1 from 49.2, the survey found. The index has been below 50 -- the threshold separating growth from contraction -- since February. It is derived from a poll of some 5,000 eurozone businesses. "The eurozone has slid further into decline at the start of the fourth quarter," Markit Chief Economist Chris Williamson said in a statement, adding: "Even Germany is not immune. It's very disappointing. It's a depressing scenario as things are getting worse." The October reading is consistent with eurozone output projected to shrink more than 0.5 percent in the fourth quarter compared with the previous one, The Wall Street Journal said. "The slowdown of the German economy is not only a consequence of the euro crisis, but also of the global economic cooling," ING Group economist Carsten Brzeski said in a research note. The contraction in Europe's biggest economy was also reflected in a bigger-than-forecast drop in German business sentiment. The Ifo Institute for Economic Research business climate index, which questions executives at 7,000 companies, fell for the sixth straight month to 100 in October from 101.4 in September. That is the lowest it's been since February 2010, shortly before the first Greek bailout. "The clouds over the German economy are darkening," Ifo President Hans-Werner Sinn said. The Association of German Chambers of Industry and Commerce Wednesday cut its German-economy growth forecast for this year to 1 percent, down from the 1.3 percent it previously expected. The 80-chamber association, which usually goes by the initials DIHK, said it anticipated 0.7 percent growth next year.

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today german manufacturing weakens growth cut Arab Today, arab today german manufacturing weakens growth cut

 



Arab Today, arab today
Arab Today, arab today Prepares to present her new collection

GMT 14:29 2017 Monday ,20 February

Prepares to present her new collection
Arab Today, arab today Tourism shows signs of recovery

GMT 09:59 2017 Monday ,20 February

Tourism shows signs of recovery
Arab Today, arab today Sarah Belamesh designs antiques of "ceramic"

GMT 19:45 2017 Monday ,20 February

Sarah Belamesh designs antiques of "ceramic"
Arab Today, arab today Optimism on the front line

GMT 07:24 2017 Monday ,20 February

Optimism on the front line
Arab Today, arab today Murder of 2 reporters in Dominican Republic

GMT 22:45 2017 Thursday ,16 February

Murder of 2 reporters in Dominican Republic

GMT 09:38 2017 Monday ,20 February

Japan returns to trade deficit in January

GMT 07:16 2017 Monday ,20 February

Global arms trade highest since Cold War

GMT 06:10 2017 Monday ,20 February

Tourism shows signs of recovery in Egypt

GMT 05:45 2017 Monday ,20 February

Brexit U-turn ruled out by many in EU

GMT 16:23 2017 Sunday ,19 February

Global energy news

GMT 16:05 2017 Sunday ,19 February

Trudeau calls for wider social benefit from economy
View News in Arabic - Business: نفط وبتروكيماويات
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Kidogo provides childcare for underserved

GMT 20:24 2017 Wednesday ,15 February

Kidogo provides childcare for underserved
Arab Today, arab today Tragic fluctuations of Bakhtiari's life revealed

GMT 06:50 2017 Wednesday ,15 February

Tragic fluctuations of Bakhtiari's life revealed
Arab Today, arab today London to tax old cars

GMT 14:06 2017 Friday ,17 February

London to tax old cars
Arab Today, arab today Pluto's unruly moons

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons
Arab Today, arab today Nissan enhances sales in most markets

GMT 14:08 2017 Monday ,20 February

Nissan enhances sales in most markets
Arab Today, arab today Competes Sweden and Germans by S90

GMT 22:36 2017 Thursday ,16 February

Competes Sweden and Germans by S90
Arab Today, arab today Egypt to hold first session of Arab film festival

GMT 21:11 2017 Saturday ,18 February

Egypt to hold first session of Arab film festival
Arab Today, arab today Teach monkeys to recognize themselves in mirror

GMT 20:41 2017 Wednesday ,15 February

Teach monkeys to recognize themselves in mirror

GMT 07:30 2017 Saturday ,18 February

Actress Nadeen Al Rassi views art as her entity

GMT 06:40 2017 Friday ,10 February

MP calls for removing text from Islamic story

GMT 19:10 2017 Friday ,17 February

Hats, scarves add beauty to women

GMT 10:26 2017 Tuesday ,14 February

Emergency UN meeting in Harare

GMT 23:29 2017 Thursday ,16 February

Home built on sand castles-style costs $8m

GMT 21:49 2017 Thursday ,16 February

Scientists develop new therapy

GMT 19:16 2017 Friday ,17 February

Aziz House ready to host the tourists

GMT 13:12 2015 Saturday ,09 May

Sheikh Sultan opens Sharjah Centre

GMT 12:39 2017 Monday ,20 February

newest smartphone another winner for Huawei

GMT 13:16 2017 Tuesday ,14 February

First fashion model with Down syndrome
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday