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- The German service sector continued to expand solidly in June
The German service sector continued to expand solidly in June
The German service sector continued to expand solidly in June, according to the latest PMI survey data from IHS Markit. Total activity, new business and employment all increased at rates that were in excess of their respective long-run survey averages, albeit slower than in May. Output grew at the softest rate in five months. The latest survey data also signalled the weakest rise in average input costs since September 2016.
The seasonally adjusted IHS Markit Germany Services PMI Business Activity Index remained well above the no-change mark of 50.0 in June, signalling ongoing growth of output at German service providers. The headline figure was above its long-run average of 53.2 but weakened from May's 55.4 to 54.0, indicating the slowest expansion since January.
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