Germany’s Economic Activity Loses Momentum in June
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Germany experienced a greater loss of economic momentum than anticipated in June, primarily driven by slower growth in the services sector and continued weakness in their factories. The composite purchasing managers index fell to 50.8, below the expected forecast of 53.3. Despite active development in the service sector during the second quarter, weak data on business activity in France negatively impacted the euro, which had just recently risen above 1.10. Furthermore, concerns about de-industrialization are becoming more prevalent, and this situation is contributing to a decrease in global profitability, including landmark treasuries. [/s2If]
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