German manufacturing disappoints, PMI falls to 42.3 from 45.5 in January. Economists expected growth to 46.1.
Better than expected, services rose from 47.7 to 48.2, compared to expectations stuck at 48.5. "The German economy remains under pressure. The manufacturing sector is dragging the economy down more than the services sector can compensate," says Hcob economist TariqKamal Chaudhry. Reproduction all rights reserved.