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23 Jan 2015
German private sector activity expands at a faster rate in January
FXStreet (Mumbai) - German private sector activity expanded at a faster rate in January, although a slight slowdown in manufacturing activity triggered concerns regarding the Eurozone’s largest economy.
Markit's flash composite Purchasing Managers' Index (PMI) rose to 52.6 in January from a final reading of 52.0 in December. The manufacturing index dropped slightly to 51.0 from a final reading in December of 51.2. The consensus forecast in a Reuters poll saw index at 51.7. Meanwhile, index for the services sector climbed to 52.7 from a final reading last month of 52.1, above was above the consensus forecast in a Reuters poll of 52.5.
The composite activity remained above 50.00 levels for the 21st month in a row. However, it is far below levels seen early last year.
Markit's flash composite Purchasing Managers' Index (PMI) rose to 52.6 in January from a final reading of 52.0 in December. The manufacturing index dropped slightly to 51.0 from a final reading in December of 51.2. The consensus forecast in a Reuters poll saw index at 51.7. Meanwhile, index for the services sector climbed to 52.7 from a final reading last month of 52.1, above was above the consensus forecast in a Reuters poll of 52.5.
The composite activity remained above 50.00 levels for the 21st month in a row. However, it is far below levels seen early last year.