DAX Drops On Growth, Inflation Concerns

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2023-09-05 09:02:12  • 1 min

German stocks edged lower on Tuesday as weak data from China and the euro area revived concerns about slowing growth.

China's services activity expanded at the slowest pace in eight months in August, a private-sector survey showed earlier today.

Business activity in the euro zone weakened further in August as the economic downturn extended from manufacturing to the services sector.

HCOB's final Composite Purchasing Managers' Index (PMI), compiled by S&P Global, dropped to 46.7 in August from July's 48.6, marking the lowest level since November 2020.

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