German S&P Global Composite PMI Flash (Jun) 48.0 vs. Exp. 49.9 (Prev. 48.8); "Most of the responses used in the calculation of the June flash PMI data were received prior to the signing of the US-Iran MoU"

Inflationary pressures have started to ease off, with input costs rising at their slowest rate since just before the outbreak of the war in the Middle East The service sector continues to act as a notable drag on the economy, seeing rates of decline in both business activity and new work gather pace in June. We are yet to see any noticeable fallout from the Middle East war on the German labour market