FXStreet (Łódź) - Tim Davis, Vice President, Global Strategist at TD Securities observes that German August manufacturing and services PMIs saw less decline than expected after the sharp fall in ZEW numbers.

Key quotes

"The details of the German PMIs continue to be decent but were mixed."

"In the manufacturing PMI, new orders grew at the slowest pace in a year, but the services PMI reported new orders at their strongest level for three years."

"Employment growth continues but continues to see a softer pace, and German businesses are still adding to backlogs and the pipeline of work."

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