Germany’s flash Manufacturing PMI unexpectedly rises strongly to 52.2 vs. 50.1 estimates

German flash HCOB Composite PMI returns to the expansion trajectory in July after declining in June. Preliminary figures show that the overall business activity expanded to 51.2. The Composite PMI was seen arriving at 49.8 from 49.5 in June. A figure below 50.0 is considered a contraction in the overall business activity. The Composite PMI increases significantly due to upbeat factory sector activity.