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- Germany's preliminary manufacturing and services PMIs fall in January
Germany's preliminary manufacturing and services PMIs fall in January
Markit Economics released its preliminary manufacturing purchasing managers' index (PMI) for Germany on Friday. Germany's preliminary manufacturing PMI fell to 52.1 in January from 53.2 in December, missing forecasts of a decline to 53.0.
The fall in the manufacturing PMI was mainly driven by a weaker increase in purchasing activity.
Germany's preliminary services PMI was down to 55.4 in January from 56.0 in December. Analysts had expected index to decrease to 55.6.
The decline of the services PMI was driven by a weaker rise in business activity.
"Germany's private sector economy was largely unaffected by the recent stock market turmoil and intensifying uncertainty stemming from the so-called migrant crisis at the beginning of the year, according to latest survey result," Markit's economist Oliver Kolodseike noted.
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