Drop in Demand Weighs on German Manufacturing, Outlook Darkens: PMI

Drop in Demand Weighs on German Manufacturing, Outlook Darkens: PMI
A robot adjusts a windscreen in a fully automated process at the Daimler factory in Rastatt, Germany, on Feb. 4, 2019. Kai Pfaffenbach/Reuters
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BERLIN—A sharp fall in new orders weighed on German manufacturing activity in June, darkening the outlook for Europe’s largest economy, a survey showed on Friday.

S&P Global’s final Purchasing Managers’ Index (PMI) for manufacturing, which accounts for about a fifth of Germany’s economy, fell to 52.0 in June from May’s final reading of 54.8, in line with analysts’ expectations and with a flash estimate.