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2026.04.2307:39:30UTC+00Germany’s Private Sector Contracts in April

Germany’s S&P Global Composite PMI fell to 48.3 in April 2026, dropping sharply from 51.9 in March and falling short of market expectations of 51.1, according to preliminary data. This reading signals the first contraction in the country’s private sector since May 2025 and the steepest decline since December 2024. The ongoing war involving Iran has disrupted Germany’s fragile economic recovery, weakening demand and driving prices higher. The downturn was led by the services sector, which recorded its sharpest fall in activity since late 2022, while growth in manufacturing output also lost momentum.

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