5/21, 9:31 AM (Source: TeleTrader)
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German composite PMI up to 56.2 in May

Germany's PMI Composite Output Index rose compared to the previous month to lower-than-expected 56.2 points in May, according to the preliminary report published by IHS Markit on Friday.

The Manufacturing Output Index declined to 62.7 points to mark a 3-month low, with the Manufacturing PMI falling to 64 points. On the other hand, the Services PMI Activity Index reached a 10-month high by going up to 52.8 points.

"The improved performance in services comes at a crucial time, making up for a further loss of momentum in manufacturing due to worsening supply issues," IHS Markit Associate Director Phil Smith commented in the report.

Breaking the News / ND