Business activity continued to fall across Germany’s private sector in May, latest PMI® survey data from IHS Markit showed, albeit with the rate of decline easing from the record pace seen in April. Meanwhile, despite being less pessimistic about the outlook, firms continued with further steep job cuts and discounting of prices charged for goods and services. The headline Flash Germany Composite PMI Output Index recorded a reading of 31.4 in May, up sharply from April’s record low of 17.4 but still the second-lowest figure since comparable data were first compiled in 1998. Underlying data showed similarly steep falls ... (full story)