Archive

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.

Germany ZEW -11.4 (consensus -15.0) in Sep-23

- Germany's ZEW Economic Sentiment Index improved to -11.4 in September 2023, surpassing market expectations and reaching its highest level since June 2023.
- Despite the improvement, the index remains below both the short-term and long-term averages, indicating ongoing negative economic sentiment in Germany.

Germany unemployment rate 5.7% (consensus 5.6) in Aug-23

- Germany's unemployment rate in August 2023 was 5.7%, slightly higher than market expectations, indicating some challenges in the labor market.
- Despite this marginal increase, the unemployment rate remains below the long-run average, suggesting a tight labour market.

Germany HICP inflation 6.36% y-o-y (consensus 6.2) in Aug-23

- Germany's HICP inflation stood at 6.36% year-on-year in August 2023, surpassing market expectations of 6.2%, indicating persistent inflationary pressures.
- While the growth rate has moderated from the previous period, it remains considerably higher than the inflation target, signalling a continued problem for the ECB.