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German private sector output growth eases in June

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Staff Writer | June 26, 2017
Private sector output in Germany continued to expand strongly in June, according to flash PMI survey data from IHS Markit.
German jobs market
Germany   IHS Markit Flash Germany PMI
That said, the rate of growth slowed to the weakest since February, with both manufacturing output and services business activity increasing at slightly softer rates than in May.

The latest survey data also signalled the weakest price pressures since November 2016.

Private sector employment growth eased to a six-month low, which partly explained a stronger rise in backlogs despite softer new business expansion.

The IHS Markit Flash Germany Composite Output Index registered 56.1 in June, down from 57.4 in May and indicating the slowest rate of expansion since February.

That said, growth remained strong overall and was among the fastest registered over the past six years.

Output has risen continuously since May 2013, the second-longest sequence of growth since the series started in January 1998.

Sector data signalled that manufacturing output continued to expand rapidly.

The rate of growth was the second-fastest since April 2011, easing only fractionally since May.

In contrast, services business activity increased at the slowest rate since January.