German Preliminary Manufacturing PMI improves to 43.1 in December vs. 43.2 expected

• Germany’s Manufacturing PMI rose to 43.1 in December vs. the estimated 43.2 figure.
• Services PMI for the German economy dropped to 48.4 in December vs. 49.8 expected.
• EUR/USD extends losses below 1.0950 after downbeat German PMIs.

Germany’s manufacturing sector downturn eased slightly in December while the services sector suffered, according to the preliminary business activity report from the HCOB survey published on Friday.

The HCOB Manufacturing PMI in the Eurozone’s economic powerhouse rose to 43.1 this month, as against the 43.2 forecast and November’s 42.6.

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