The German DAX Index Has Decreased by 0.40%
The German DAX stock index was down 0.40% and is trading at 12.190.00. German Manufacturing PMI in July was 58.3, with a forecast of 59.2. Eurozone Manufacturing PMI fell to 56.8, with a forecast of 57.2. But still, the indices point to the continued expansion in the German and Eurozone production sectors.
The German Finance Ministry stated that the country's economic growth continues in the second quarter. GDP growth is expected at 0.6% in the second quarter. The IMF raised Germany's growth forecasts to 1.8% in 2017 and 1.6% in 2018.
Inflation in the euro area and Germany remains below the ECB's target of 2%. German politicians argue that the German economy needs higher interest rates. But still, the ECB intends to stick to its soft policy so long as inflation levels in the euro area remain low.