Germany May PMI Falls to 50.1, Weighing on Germany 40

Germany’s final May manufacturing PMI printed at 50.1 on 1 June, down from April’s 51.4 and marking the first drop in new orders this year. Earlier the same day, Destatis reported April retail sales fell just 0.3% m/m, beating the -0.5% consensus after March’s -2.0% decline and indicating a milder consumer pullback. The combined releases highlight stalling industrial momentum alongside uneven domestic demand, exerting modest downward pressure on the Germany 40 amid broader economic uncertainty.