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German private sector remains mired in contraction at start of 2024
The downturn in Germany’s private sector extended into the new year as business activity fell for a seventh straight month in January, the latest HCOB ‘flash’ PMI® survey compiled by S&P Global showed. There were continued signs of broad-based weakness in demand, albeit with only limited spillover to the labour market. The mood among businesses towards the yearahead outlook meanwhile brightened slightly. On the price front, inflationary pressures remained elevated in the service sector, where firms remarked on the influence of wage demands. Prices in the manufacturing sector continued to fall, although the rate ... (full story)