German economy slows, PMI indexes indicates recession

(ANSA) - BELGRADE, SEP 23 - The German economy's contraction phase worsened in September, weighed down most of all by difficulties in the manufacturing sector, which is dealing with the auto sector crisis. The composite PMI Hcob index fell to a seven-month low of 47. 2 from 48.4 in August, the service activity index fell from 51.2 to 50.6, the lowest in six months, and the manufacturing index fell to its lowest in a year, dropping from 42.4 in August to 40.3. Hcob, which compiles PMI indices for S&PGlobal, says Germany is "in a technical recession." (ANSA).