German S&P Global Composite PMI Flash (May) 48.6 vs. Exp. 48.4 (Prev. 48.4, Low. 47.4, High. 51.4)
- "...the German economy is on course to contract in the second quarter of the year."
- "The disruption from the effective closure of the Strait of Hormuz continues to filter through to prices, with input cost inflation showing a further acceleration due to the knock-on effects of higher energy prices and supply shortages."
- "...slower rises in both manufacturing and services output prices point to businesses shouldering a greater proportion of the burden. This suggests some containment of inflationary pressures, but it also hints at an increased squeeze on company margins which has consequences of its own..."
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