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11/23/2021, 9:30 AM (Source: TeleTrader)
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German private sector growth up in November

The business activity in the German private sector activity improved in November, according to a preliminary report released by IHS Markit on Tuesday. The IHS Markit Flash Germany Composite PMI Output Index stood 52.8 this month, up from October's 52.

"The flash PMI data for November point to a general leveling off the economic growth slowdown seen across the German private sector over the previous three months. Business activity continued to rise, with the rate of increase gaining some well-needed momentum as manufacturers and services firms alike saw faster uplifts in output," Lewis Cooper, an economist at IHS Markit, said.

The activity in the services sector rose to the highest level in two months with the Flash Germany Services PMI Business Activity Index climbing from 52.4 in October to 53.4 in November. Meanwhile, manufacturing activity slid to a 10-month low as the Flash Germany Manufacturing PMI stood at 57.6.

Baha Breaking News (BBN) / NP