As data showed, economic development of Germany in September slowed down, Bloomberg reports. Manufacturing sector growth declined to the lowest in two years.

Purchasing Managers’ Index for manufacturing and services from IHS fell to 55,3 from 55,6 in August. Economists predicted decline to 55,4.

Decline was caused by manufacturing sector, as services still show growth. New orders almost did not increase, while expectations of future volumes were reduced.

Dependence of Germany from export means that country’s economy is very vulnerable to growing protectionism as well as to emerging markets’ turmoil. Last week the leader of ECB pointed out to global risks as main threat to euro area economic growth.

IHS index for euro area was planned without changes at 54,5, however according to actual data, it fell to 54,2. Gauge for manufacturing only declined to 24-months low. Index for France fell to the lowest level in 21 months.