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- Germany's preliminary manufacturing PMI declines in October, while services PMI climbs
Germany's preliminary manufacturing PMI declines in October, while services PMI climbs
Markit Economics released its preliminary manufacturing purchasing managers' index (PMI) for Germany on Friday. Germany's preliminary manufacturing PMI declined to 51.6 in October from 52.3 in September, in line with expectations.
Germany's preliminary services PMI was up to 55.2 in October from 54.1 in September. Analysts had expected index to decline to 53.9.
Markit's economist Oliver Kolodseike noted that the German economy was driven by the services sector.
"October's PMI results paint a fairly passive picture of the health of the German private sector economy at the start of the final quarter of 2015. Companies signalled a slight acceleration of output growth and were able to secure new contracts despite raising their charges to the greatest extent in 21 months," he noted.
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