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- Germany’s business activity growth slowed more than forecast in September - IHS Markit
Germany’s business activity growth slowed more than forecast in September - IHS Markit
The report from
IHS Markit revealed on Wednesday that Germany’s business activity expanded
in September, albeit at a slower pace than in August, as a sharp rise in manufacturing production
was partially offset by a setback in services activity.
According to
the report, the Flash Germany Manufacturing PMI surged to 56.6 in September from
52.2 in August, with each sub-component imparting a positive directional
influence. That was the highest reading since July 2018. Economist had forecast the
index to come in at 52.5.
Meanwhile, the Flash
Germany Services PMI Activity Index fell to 49 from 52.5 in August. That marked
the first decline in services business activity in three months and was well
below economists’ forecast for 53.
The headline
Flash Germany Composite Output Index came in at 53.7 in September, down from
August’s 54.4 and further below the near-two year high seen in July, pointing
to a continued loss of momentum in the recovery from the COVID-19 shutdown.
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