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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