Dusseldorf New data on the Chinese economy are weighing on the German stock market. The Dax lost 0.7 percent in the first hour of trading and traded at 15,792 points. This indicates a loss of around one percent for the leading index in May. Yesterday, Tuesday, the leading German index fell by 0.3 percent with a final reading of 15,909 points.
The economic data from the Middle Kingdom published on Wednesday night are almost consistently disappointing. The Chinese purchasing manager indices, an important early indicator of economic development, are particularly sobering. The purchasing managers’ index for the manufacturing sector is below the expansion threshold of 50 for the second straight month, indicating a contracting economy.
>> Read also: China’s economic outlook is clouding over
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