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- German business activity grew at the fastest rate for six months in August, according to the latest PMI survey data from IHS Markit
German business activity grew at the fastest rate for six months in August, according to the latest PMI survey data from IHS Markit
Adjusted for seasonality, the level of private sector output in the eurozone's largest member state rose markedly, supported by stronger growth of new business and driving an acceleration in the rate of job creation.
The IHS Markit Flash Germany Composite Output Index registered 55.7 in August, up from 55.0 in July and its highest reading since February. An acceleration in the rate of service sector business activity growth to a six-month high was the driving factor behind the improved performance midway through the third quarter. Manufacturing output continued to increase strongly and at a rate that was unchanged from that seen in July.
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