by ForexNewsNow Team on August 23rd, 2010

PMI data: German manufacturing activity slows more than forecast

NEW YORK (Forex News Now) – German manufacturing activity slowed more than forecast in August, a report showed on Monday in one of the day’s major FX news events.

The Markit market research company said index of purchasing managers in Germany’s manufacturing sector slid to 58.2 during the month, down from 61.2 in July. Any reading above 50 indicates expansion.

Analysts had expected August’s figure to come in 60.9, two real time forex news outlets reported.

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