German Preliminary Manufacturing PMI improves to 49.2 in July vs. 49.4 expected

• Germany’s Manufacturing PMI advanced to 49.2 in July vs. 49.4 anticipated.
• Services PMI for the German economy climbed to 50.1  in July vs. 50 forecast.
• EUR/USD keeps the red near 1.1770 after mixed German PMIs.

The German manufacturing sector contraction eased in July while the services sector returned to expansion, the preliminary business activity report published by the HCOB survey showed on Thursday.

The HCOB Manufacturing PMI in the Eurozone’s economic powerhouse rose to 49.2 in July, as against June’s 49, missing the market forecast of 49.4.

more to come ....