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Germany's private sector growth eases in June

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Staff Writer | June 23, 2017
Germany's private sector continued to expand in June but the pace of growth was the weakest since February, flash survey data from IHS Markit showed Friday.
Germany producer prices
Germany   IHS Markit:
The composite output index fell to 56.1 in June from 57.4 in May. Growth remained strong overall and was among the fastest registered over the past six years, Markit said.

Manufacturing output and services business activity increasing at slightly softer rates than in May.

The flash manufacturing Purchasing Managers' Index fell less-than-expected to 59.3 in June from 59.5 in May.

The score was forecast to fall to 59.0. Nonetheless, this was the second-strongest performance since April 2011.

At the same time, the services PMI declined to a 5-month low of 53.7 from 55.4 in previous month. The expected reading was 55.4.

However, IHS Markit's full-year forecast for 2017 GDP growth currently stands at 2.0% in calendar-adjusted terms, the strongest since 2011, Trevor Balchin, a senior economist at IHS Markit said.