German Preliminary Manufacturing PMI improves to 48.8 in May vs. 48.9 expected

• Germany’s Manufacturing PMI edged higher to 48.8 in May vs. 48.9 anticipated.
• Services PMI for the German economy fell to 47.2 in May vs. 49.5 forecast.
• EUR/USD keeps the red near 1.1300 after mixed German PMIs.

The German manufacturing sector activity picked up and the services sector deepened its contraction in May, the preliminary business activity report published by the HCOB survey showed on Thursday.

The HCOB Manufacturing PMI in the Eurozone’s top economy improved to 48.8 this month, compared with April’s 48.4, missing the estimate of 48.9.

more to come ....