Eurozone manufacturing downturn continued in August: German retail sales flat in year to July
Sep 1st, 2008 | By Finfacts Ireland Business & Finance Portal | Category: News worldwide
At 47.6 in August, up slightly from a flash reading of 47.5, the seasonally adjusted Markit Eurozone Manufacturing PMIremained below the neutral 50.0 mark for the third successive month. The latest deterioration in business conditions reflected further falls in production, new orders and employment, with the trend in new work received especially weak. In a separate report today, Destatis, the Federal German Statistics Office, said that retail sales in Germany in July 2008 was in nominal terms 3.1% larger and in real terms flat compared with the corresponding month of the previous year.