July 2015 German Markit/BME manufacturing PMI flash 51.5 vs 51.9 exp

July 2015 German Markit/BME manufacturing, services and composite PMI flash data report 24 July 2015

• Prior 51.9
• New orders 50.9 vs 51.7 prior
• Services 53.7 vs 53.9 exp. Prior 53.8
• New orders 51.3 vs 50.8 prior
• Composite 53.4 vs 53.9 exp. Prior 53.7
• New orders 51.9 vs 51.1 prior

Slightly worse but it's not all bad news on the orders front for Services and the comp

What isn't good news is that German manufacturing export orders fell for the first time since Jan, while input costs rose for the 5th straight month. Markit noted that some firms passed these costs on. That suggests some inflationary pressure but won't help competitiveness

EURUSD doesn't find any reason to like the numbers and sinks to 1.0940 from 1.0960

German manufacturing, services and composite PMI's