Business confidence in Germany and France still showing weakness

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BancaMarch: Business confidence indicators in Germany and France this morning continue to show weakness in growth in the coming months.

In Germany, the composite PMI deteriorated more than expected, falling back to 45.8 from 46.4 and below the 46.7 expected. This performance was mainly explained by a sharp drop in confidence in the German services sector (48 vs. 50.3 previously) while manufacturing continued to contract (40.7 vs. 39.6 previously).

In France, the composite PMI rebounded to 45.3 from 44.1, driven by an improvement in services confidence (46.1 vs. 44.4), but with manufacturing weakening (42.6 vs. 44.2).

All in all, negative figures, which continue to point to a further deterioration in growth in the coming months.

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The Corner
The Corner has a team of on-the-ground reporters in capital cities ranging from New York to Beijing. Their stories are edited by the teams at the Spanish magazine Consejeros (for members of companies’ boards of directors) and at the stock market news site Consenso Del Mercado (market consensus). They have worked in economics and communication for over 25 years.