- Analytics
- News and Tools
- Market News
- Final German services PMI significantly lower in August
Final German services PMI significantly lower in August
According to markiteconomics, August data pointed to a growth slowdown in Germany's service sector, with new business and activity rising at the weakest rates in more than one and three years, respectively. Moreover, confidence towards the year ahead reached its lowest level since last October. Sharply rising employment levels helped alleviate pressure on operating capacity, with backlogs of work declining for the second month running.
The final seasonally adjusted Markit Germany Services PMI Business Activity Index fell from July's 54.4 to 51.7 in August. Although still signalling growth of output, the rate of expansion was the weakest since mid-2013 and below the long-run series average (53.1). Meanwhile, sector data suggested that activity growth remained particularly strong at Hotels & Restaurants and Financial Intermediation companies, while firms in the Transport & Storage category reported a fall. The slowdown in the service sector impacted overall growth in Germany during August, with the final Markit Germany Composite Output Index - which measures the combined output of the manufacturing and service sectors - falling from July's 55.3 to a 15-month low of 53.3.
© 2000-2024. All rights reserved.
This site is managed by Teletrade D.J. LLC 2351 LLC 2022 (Euro House, Richmond Hill Road, Kingstown, VC0100, St. Vincent and the Grenadines).
The information on this website is for informational purposes only and does not constitute any investment advice.
The company does not serve or provide services to customers who are residents of the US, Canada, Iran, The Democratic People's Republic of Korea, Yemen and FATF blacklisted countries.
Making transactions on financial markets with marginal financial instruments opens up wide possibilities and allows investors who are willing to take risks to earn high profits, carrying a potentially high risk of losses at the same time. Therefore you should responsibly approach the issue of choosing the appropriate investment strategy, taking the available resources into account, before starting trading.
Use of the information: full or partial use of materials from this website must always be referenced to TeleTrade as the source of information. Use of the materials on the Internet must be accompanied by a hyperlink to teletrade.org. Automatic import of materials and information from this website is prohibited.
Please contact our PR department if you have any questions or need assistance at pr@teletrade.global.
Bank transfers
