The recovery continues to slow drastically in Europe's biggest economy which is adding more downside pressure to the euro on a deeply worsening outlook.

The German flash Manufacturing PMI for September declined to 50.0, meaning the sector stagnated, from 50.9 and was even slower than the expected 50.5.

The Services PMI on the other hand slowed to 50.3 from 51.1 and also was weaker than the expected 50.5.