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Germany PMI manufacturing 39.1 (consensus 38.7) in Aug-23

- Germany's PMI manufacturing for August 2023 improved slightly to 39.1 from the previous month's figure of 38.8 (consensus 38.7), signalling a slight improvement but remaining far below the growth threshold of 50.
- The PMI reading of 39.1 is the highest level since June 2023, suggesting some improvement, but it still lags significantly behind the one-year average by 5.12 points.

Germany PMI services 47.3 (consensus 51.5) in Aug-23

- The Germany PMI services crashed to 47.3 in August 2023, contrary to the 51.5 consensus, reaching the lowest level since November 2022.
- This decline is supported by other economic indicators such as weak GDP growth, stagnant unemployment rates, and negative economic sentiment.

Germany ZEW -12.3 (consensus -14.4) in Aug-23

- Germany ZEW indicator for August 2023 improves to -12.3, exceeding consensus expectations.
- Despite the improvement, the indicator remains below the long-run average, indicating ongoing concerns about future economic growth.

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

- Germany's unemployment rate in July 2023 stood at 5.6%, indicating a decline compared to the previous rate and reaching the lowest level since February 2023.
- Although slightly above the one-year average, the unemployment rate remains significantly below the long-run average, suggesting a positive labor market situation in Germany.