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- German composite PMI higher than expected in June
German composite PMI higher than expected in June
The IHS Markit Flash Germany Composite Output Index rose to 54.2 in June from 53.4 in May, to mark the first uptick in the index since January.
Commenting on the flash PMI data, Phil Smith, Principal Economist at IHS Markit said: "The headline PMI numbers for Germany make for slightly better reading in June thanks to a pick-up in the pace of expansion in the service sector, though the performance over the second quarter as a whole still looks to be one of only modest growth. "The big disappoint was manufacturing, where the PMI fell further from last December's record high to the lowest in one-and-a-half years. A worrying slide in export order growth seen since the start of the year continued into June, with the latest survey's anecdotal evidence highlighting quieter client interest from the US and China".
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