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7/5, 9:55 AM (Source: TeleTrader)
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Germany's services PMI increases in June

The recovery in business activity in Germany's service sector continued in June as coronavirus restrictions eased further, however, the country's services PMI came in slightly below expectations, IHS Markit revealed on Monday.

The headline seasonally adjusted Business Activity Index rose from May's 52.8 to 57.5 in June, the highest level since March 2011.

"However, alongside a strong rebound in demand we're seeing costs continuing to soar, with the two factors combining to drive a rise in prices charged by services firms that's unprecedented in more than two decades of data collection." Associate Director at IHS Markit Phil Smith commented on the data.

Breaking the News / JC