The German economy lost considerable momentum at the end of the second quarter, according to the latest ‘flash’ PMI® survey from HCOB, with deteriorating demand conditions leading to a notable slowdown in business activity growth. Company expectations meanwhile slumped to a six-month low, whilst the rate of job creation also ticked down. Elsewhere, inflationary pressures continued to ease during June, with manufacturers recording the first decrease in output prices for over two-and-a-half years. Service sector costs and selling prices continued to rise sharply, driven in part by higher wages and increasing interest ... (full story)