German S&P Global Composite Flash PMI (May) 54.6 vs. Exp. 54.0 (Prev. 54.3)
- Business confidence towards the outlook remains subdued, with heightened uncertainty, sharply rising prices and supply chain disruption all starting to impact demand and representing risks to the outlook in the goods-producing sector in particular.
- Turning to prices, May’s flash data pointed to the continuation of historically sharp inflationary pressures across the German economy,with businesses once again hiking their charges for goods and services as they looked to offset the higher cost of energy, fuel,raw materials and personnel.
- “Although the survey’s gauges of business costs and output prices ticked down from April’s record highs, they remained historically elevated and pointed to acute inflationary pressures across the economy, with the high cost of transportation, energy and commodities in general continuing to work their way through supply chains.”
via S&P Global
24 May 2022 - 08:30- Data- Source: S&P Global
Subscribe Now to Newsquawk
Click here for a 1 week free trial
Newsquawk provides audio news and commentary for over 15,000professional traders and brokers worldwide. Services include:
- Real-time audio coverage from 0630 to 2200 London time plus Asia-Pac 2200 to 1000 London time
- Teams of analysts covering equities, fixed income, FX, energy, and metals markets
- Real-time scrolling news service with instant analysis
- Daily and weekly pre-market research and calendars
- Video updates covering near-term key risk events & primary trading themes
- One-to-one chat with our expert analysts