Germany's private sector rebounded in June after a four-month-long slowdown, data released Friday showed, supporting the growth of the euro zone's biggest economy despite a fear of markets over new trade policies.
The composite purchasing managers' index for the manufacturing and service sectors, which accounted for more than two-thirds of the economy, rose from 53.4 to 54.2 in May to close near a two-month high. The manufacturing PMI fell from 56.9 to 55.9 in the specified period, the lowest reading in 18 months. The service index rose to a three-month high of 52.1 to 53.9.
Some attributed this to the growing protectionist policies of US President Donald Trump, which crushed the expectations of manufacturers of exports based on Germany. After the data, the Markit Bureau of Statistics expects the German economy to grow by 0.5% in the second quarter after rising by 0.3% in the first quarter.
