RSS   Newsletter   Contact   Advertise with us

Economic activity in Germany slowed down, PMI 54.5

Share on Twitter Share on LinkedIn
Staff writer ▼ | February 22, 2016
Economic activity in Germany slowed down in February, with a buoyant services sector helping to offset weak manufacturing.
Germany factory
Germany   Index for factory sector dropped from 52.3 to 50.2
Markit's composite purchasing managers' index for both sectors dropped from 54.5 in January to 53.8, a seven-month low, according to a preliminary reading from the survey compiler.

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.