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Germany HICP inflation 4.34% y-o-y (consensus 4.7) in Sep-23

- Germany's HICP inflation in September 2023 registered at 4.34% year-on-year, slightly below the consensus forecast of 4.7%, indicating a slowdown in price growth.
- Despite the slowdown, the current inflation level remains elevated and significantly deviates from both the 1-year average (3.70 percentage points lower) and the long-run average (2.48 percentage points higher).

Germany PMI Manufacturing 39.8 in Sep-23

- Germany's PMI Manufacturing improved to 39.8 in September 2023 from 39.1 in the previous month, indicating a modest recovery in the sector.
- While this is the highest level recorded since June 2023, the PMI remains below the threshold of 50, suggesting ongoing contraction and slower-than-expected recovery in manufacturing.

Germany IFO 88.7 (consensus 88.0) in Sep-23

- Germany IFO index in September 2023 slightly surpassed expectations but remained historically low, indicating persistent pessimism in business sentiment.
- The IFO index is significantly below both the one-year and long-term averages, reflecting a prolonged decline in business confidence.

Germany PMI services 49.8 (consensus 47.2) in Sep-23

- Germany's PMI for the services sector in September 2023 improved significantly compared to the previous measurement, indicating a potential uptick in demand.
- Despite the improvement, the sector is still below the expansion threshold of 50, suggesting challenges in fully recovering its strength.