Germany’s private sector growth slowed slightly in September, flash data from Markit showed Wednesday.
The composite output index fell to 54.3 in September from 55 in August. Nonetheless, a reading above 50 suggests growth in the private sector. Manufacturers and services providers both reported slightly weaker growth of output.
The services Purchasing Managers’ Index fell to 54.3 in September from 54.9 in August. The expected score was 54.5.
Likewise, the manufacturing PMI slid to 52.5 from 53.3 a month ago. It was expected to fall to 52.6.
Oliver Kolodseike, an economist at Markit, said, “German private sector companies remained in expansion mode at the end of the third quarter, as highlighted by a further increase in output.”
Despite slowing slightly since August, the rate of growth was healthy overall and indicative of a further rise in gross domestic product in third quarter, the economist said.
The material has been provided by InstaForex Company – www.instaforex.com