German DAX Stock Index Fell by 0.11%
The stock index of Germany DAX fell by 0.11% and is trading at 12.239.00 level. The producer price index in the Eurozone decreased by 0.1%, which is in line with the forecast. The indicator could not publish profit since January.
The German Manufacturing PMI slowed to 58.1. Nevertheless, this indicates a steady expansion in the manufacturing industry. The labor market in Germany remains stable. Meanwhile, Eurozone Preliminary Flash GDP showed a positive growth of 0.6%, which is the highest since the first quarter of 2016.
Markets expect that the US Federal Reserve will raise the base interest rate level in December. According to CME Group, the chances of a rate hike in December are only 42%. Investors remain concerned that low inflation in the US will slow the Fed’s rate hike.