Markit Economics released its final manufacturing purchasing managers' index (PMI) for Germany on Monday. Germany's final manufacturing purchasing managers' index (PMI) declined to 51.8 in July from 51.9 in June, up from a preliminary reading of 51.5.

The increase was driven by a rise in production and new orders.

"The German manufacturing sector remained stuck in a low gear at the start of the third quarter, with the PMI signalling further, albeit only modest, growth," Markit economist Oliver Kolodseike said.