Germany’s private sector expanded less than initially estimated in June, final data from Markit showed Friday.
The composite output index came in at 53.7 in June, up from 52.6 in May. The initial estimate for June was 54.
Similarly, the services Purchasing Managers’ Index rose to 53.8 in June from 53 in May. It was below the flash score of 54.2.
Service providers reported a twenty-fifth consecutive monthly increase in business activity in June. The reading indicates an acceleration in the rate of output growth.
“The data furthermore point to another quarter of modest GDP growth in Germany,” Oliver Kolodseike, economist at Markit and author of the report, said.
The material has been provided by InstaForex Company – www.instaforex.com