German Growth Slows More Than Expected to Four-Year Low

German economic growth was the weakest in almost four years in November as both services and manufacturing cooled.

The composite Purchasing Managers’ Index for Europe’s largest economy dropped to 52.2 in November from 53.4 last month, according to a flash reading released by IHS Markit on Friday. The result, below all estimates in a Bloomberg survey of economists, pushed the euro lower. It was down 0.3 percent shortly after the release.