Economic activity in Germany slowed down, PMI 54.5Staff writer ▼ | February 22, 2016
Economic activity in Germany slowed down in February, with a buoyant services sector helping to offset weak manufacturing.
Germany Index for factory sector dropped from 52.3 to 50.2
A gauge for the country's factory sector dropped from 52.3 to 50.2, a 15-month low (consensus: 51.9), while a barometre for the services sector in fact rose from 55.0 to 55.1, revealing a slight acceleration in activity (consensus: 54.7).
Oliver Kolodseike, economist at Markit, called attention to the fact that Monday's reading marked a second consecutive month of deceleration and how hiring had eased to its weakest in almost a year.
Panellists had commented that weak global demand had acted as drag on growth, Kolodseike pointed out. ■