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- German composite PMI little changed in November
German composite PMI little changed in November
German private sector companies reported ongoing output growth in November. The Markit Flash Germany Composite Output Index posted 54.9, little-changed from October's ten-month high of 55.1 and above the average this year so far (54.2). While service providers recorded an acceleration in activity growth, manufacturers noted a slight slowdown.
The overall expansion in output was attributed by panellists to improved order intakes and increased capacity. November data highlighted a further solid rise in new business placed with German private sector firms. Despite slowing slightly since the previous month, the rate of increase remained robust.
A number of companies commented on new clients, while survey data also suggested that part of the expansion was driven by solid demand from foreign markets. Indeed, manufacturers signalled a sharp rise in new export orders during the month.
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