FXstreet.com (Barcelona) - Manufacturing activity has contracted further in Germany in January from levels well into contraction already, and similar trend has been observed in the services sector, according to January's advanced Purchasing Manager's Index.

Manufacturing PMI has dropped to 32 in January from 32.7 in December. While services PMI has declined to 45.4 in January from 46.6 in December.

In both cases, PMI figures are dropping further away from the 50 level that divides figures showing expansion from contraction of the sector's activity.