Germany June flash manufacturing PMI 50.0 vs 50.4 expected

Germany’s June flash PMI data disappointed expectations, signaling a weaker-than-expected outlook for Europe’s largest economy and reinforcing concerns that the economy may have slipped back into contraction in Q2. The manufacturing PMI came in at 50.0 versus 50.4 expected, while services dropped to 46.8 from 48.1 and below the 49.0 forecast. The composite PMI fell to 48.0 from 48.5, also missing estimates. The report highlighted softer inflationary pressures, but the broader message was negative for growth, with business activity declining for a third straight month and services remaining a key drag. The weaker data may weigh on the euro and support risk-off sentiment toward German and European assets.