German Manufacturing PMI dropped in January

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Friday, Jan 23 2015

Flash Germany Manufacturing PMI dropped to 51.0 from 51.2 in December, what is 2-month low. Analysts were predicting increase to 51.8. Private sector employment rose despite the introduction of a national minimum wage at the beginning of the year, as companies reported increased new orders and higher business requirements.

Flash Germany Services Activity Index rose to at 52.7 from 52.1 in December, what is a 3-month high. Incline to 52.6 was forecasted. Lower oil and energy prices meanwhile resulted in the second successive monthly fall in input costs. The rate at which input prices fell was in fact the strongest since September 2009.

Data did not have any major impact on euro, which is currently being traded above 1.1340 level, with markets still being influenced by yesterday's ECB decision. Pair is likely to find support around 1.1320 area and resistance above 1.1380 level. Later today, Eurozone Manufacturing and Services PMI figures will be released.

More in this category: « France Manufacturing PMI at an 8-month high Eurozone Manufacturing and Services PMI up in December »

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