Disappointing manufacturing data and a weaker growth outlook fanned fears of a German recession and a eurozone slowdown on Thursday.
Germany’s manufacturing purchasing managers’ index (PMI), which is based on a survey of supply chain managers, inched up from 44.1 in March to 44.5 in April — its second-lowest reading since mid-2012.
Manufacturing output fell for a third consecutive month and orders fell sharply. New export orders also fell at the second-fastest rate in a decade, and business confidence remained close to the 50-month low it hit in December, according to IHS Markit.
