German Manufacturing PMI Hits 34-Month High at 49 in June, Services Surprise to Upside

German Manufacturing and Services PMIs Rise in June

Germany’s preliminary Manufacturing Purchasing Managers' Index (PMI) for June came in at 49, in line with market expectations and up from 48.3 in May, reaching its highest level in 34 months, according to HCOB survey data published Monday.

The Services PMI also surprised positively, rising to 49.4 in June from 47.1 in May, significantly exceeding the forecast of 47.5. This marks a three-month high for the sector.

Composite Output Index Climbs Above 50

The broader HCOB German Composite Output Index, which tracks overall business activity in both manufacturing and services, increased to 50.4 in June, up from 48.5 in May, beating the consensus estimate of 49. This signals a mild expansion in Germany’s economy for the first time in months.

EUR/USD Unmoved Amid Mixed PMI Signals

Despite the PMI figures showing easing contraction, the EUR/USD pair remained subdued around 1.1500 during the European session. Traders may be holding back due to broader macroeconomic uncertainty and upcoming global PMI data.

Internal Linking Suggestions (for Tredu.com):

• EUR/USD Struggles as Market Weighs PMI Data
• What the PMI Index Means for the Eurozone Economy
• Latest ECB Policy Outlook and Market Impact
• Forex Technicals: EUR/USD Near Key Resistance