BERLIN, Oct 24 (Reuters) – The contraction in activity in Germany deepened in October due to rising energy costs, which are weighing on the industrial sector in particular, preliminary results of the monthly survey showed on Monday. of S&P Global with purchasing managers.
The composite PMI index, which includes the manufacturing industry sector and the services sector, fell to 44.1 in October against 45.7 the previous month and 45.3 for the Reuters consensus.
The index thus falls to its lowest level since May 2020.
The “flash” manufacturing PMI fell to 45.7 from 47.8, coming in below market expectations, which gave it at 47.0.
That of services is, on the contrary, higher than the consensus, at 44.9, after 45.0 in September and 44.7 expected.
“The ‘flash’ PMI data shows the slowdown in German corporate activity accelerating at the start of the fourth quarter, adding to growing signs of an impending recession,” said Phil Smith, managing partner at S&P Global Market Intelligence. . (Report Thomas Escritt, French version Laetitia Volga, edited by Kate Entringer)