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- Germany August private sector growth quickens more than estimated
Germany August private sector growth quickens more than estimated
Activity in
the German private sector economy increased for the fourth successive month in
August, and to a larger extent than estimated earlier, final data from a survey
conducted jointly by Markit Economics and BME showed Wednesday.
The
seasonally adjusted composite output index, a measure of activity in the
manufacturing sector and the service sector, rose to a seven-month high
At the same
time, the business activity index for the service sector advanced to a 6-month
high of
The
improvement in service sector business activity were driven by a further growth
in new work during August, which rose at the fastest pace since January. Responding
to the increase in activity, service providers raised their workforces for a
second successive month, though at a slower rate than in July.
Average
input prices faced by German service providers increased sharply in August amid
higher energy bills and fuel prices. Meanwhile, output prices increased only
moderately and at a slower pace than in the previous month.
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