CONFIRMED: Europe's Strongest Economy Continues To Contract
May 2, 2013, 13:29 IST
There's no doubt now that Germany is succumbing to the weak economy.
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There have been hits of this happening for awhile now, but today's PMI reading, which is a gauge of the country's manufacturing sector, confirms it.
April PMI for Germany came in at 48.1, which is down from 49.0 last month. Anything below 50 is contraction.
What's worse, there was a reduction in staffing levels, and total manufacturing output had its first drop all year.
Here's a quick summary.
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