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DAX Slips On Growth Worries
(RTTNews) - German stocks traded lower on Friday amid concerns that higher interest rates could weigh on global growth.
Survey data released earlier today showed that business activity across Germany fell for the third month in a row in September amid a sustained decline in demand for goods and services.
The HCOB Composite PMI, compiled by S&P Global, rose to 46.2 in September from August's 39-month low of 44.6, but came in below forecasts for a score of 47.2.
Services activity decreased fractionally, while manufacturing PMI increased slightly but remained deep in contraction territory, the survey showed.
The benchmark DAX was down 57 points, or 0.4 percent, at 15,515 after losing 1.3 percent in the previous session.
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