German manufacturing downturn deepens in MarchBERLIN, March 22 (Xinhua) -- The purchasing managers' index (PMI) for Germany's manufacturing sector fell to 44.7 points from 47.6 points in March, the steepest decline since August 2012, according to the preliminary PMI index published on Friday.
"The result is not a surprise for us because it will be the third time in a row that the PMI has been under 50 points in recent months", Frank Roesch, spokesperson of the German Association for Supply Chain Management, Procurement and Logistics (BME), told Xinhua on Friday.
http://www.xinhuanet.com/english/2019-03/23/c_137916520.htmShock German factory slump reignites fears of eurozone recessionThe eurozone is teetering on the brink of recession as a major manufacturing slump in Germany - its biggest economy - shows no signs of abating.
A sharp decline in demand for cars and other German-made goods led to the steepest rate of decline in its manufacturing industry in more than six years, according to figures from a closely watched survey.
The worrying data suggest the industry contracted for the third consecutive month in March, and that output fell to its lowest level since 2012 as order books shrank and exports fell.
https://www.telegraph.co.uk/business/2019/03/22/shock-german-factory-slump-reignites-fears-eurozone-recession
