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- Germany's preliminary manufacturing and services PMIs climb in November
Germany's preliminary manufacturing and services PMIs climb in November
Markit Economics released its preliminary manufacturing purchasing managers' index (PMI) for Germany on Monday. Germany's preliminary manufacturing PMI climbed to 52.6 in November from 52.1 in October, beating forecasts of a decrease to 52.0.
Germany's preliminary services PMI was up to 55.6 in November from 54.5 in October. Analysts had expected index to decline to 54.3.
Markit's economist Oliver Kolodseike noted that the German economy was partly driven by "efficiency improvements and increased new order intakes".
"There was some divergence by sector, however, with accelerated output growth at service providers contrasting with a further slowdown at goods producers. While the Manufacturing PMI edged slightly higher, both output and new orders in the sector rose at marginally weaker rates," he noted.
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