Mumbai, May 21 -- German private-sector activity contracted for a second consecutive month in May, raising concerns that Europe's largest economy is being hit by the spillover effects of the Iran war. The S&P Global Composite Purchasing Managers' Index (PMI) for Germany rose slightly to 48.6 in May, up from 48.4 in April, but remained below the 50-point threshold that separates expansion from contraction. Both the manufacturing and services sectors remained in contraction territory, as weak demand and elevated inflation continued to weigh on business activity.
Published by HT Digital Content Services with permission from Capital Market....