empty
 
 

2014.08.2104:48:00UTC+00German Private Sector Growth Slows In August

Germany's private sector growth slowed in August as contraction in manufacturing deepened further, flash data from Markit Economics showed Thursday.

The composite output index dropped to 54.9 in August from 55.7 in July. The current sequence of continuous activity growth now stretches to 16 months.

The service sector remained the driving force behind the overall expansion in August. Although the services Purchasing Managers' Index fell to 56.4 from 56.7 in July, it remained above the expected score of 55.5.

Meanwhile, the manufacturing PMI dropped to 52 in August from 52.4 a month ago. The index was expected to fall more sharply to 51.5.

"The PMI data available for the third quarter so far point to a swift recovery in GDP from the ground lost during the second quarter," Oliver Kolodseike, an economist at Markit, said.

"However, the concern is the divergent trends within the economy, with the manufacturing sector losing further momentum," the economist said.

  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and get $9000 more!
    In May we raffle $9000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • 100% Bonus
    Your unique opportunity to get a 100% bonus on your deposit
    GET BONUS
  • 55% Bonus
    Apply for a 55% bonus on your every deposit
    GET BONUS
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS


Can't speak right now?
Ask your question in the chat.
Widget callback