German manufacturing disappoints, PMI index drops to 42.3 - PMI. Services, however, performed better than expected, rising from 47.7 to 48.2, compared to expectations stuck at 48.1.
"The German economy remains under pressure. The manufacturing sector is dragging the economy down more than expected the service sector is able to compensate," commented Hcob economist Tariq Kamal Chaudhry. (HANDLE) . Strong setback for German manufacturing in February.