Germany’s economy maintained strong growth momentum at the start of 2018 thanks to the fastest rise in service sector business activity for nearly seven years. Growth in the manufacturing sector was meanwhile below the record level seen at the end of 2017 but still among the highest seen over the past two decades. Job creation in the private sector economy meanwhile gathered pace to reach the fastest seen since early-2011.
German Manufacturing PMI down, Services PMI at sevn-month high
- Wednesday, Jan 24 2018
Private sector output in Germany maintained strong growth momentum in January, fueling optimism over the health of the euro zone's largest economy, preliminary data showed on Wednesday. The preliminary German services purchasing managers’ index rose to a nearly seven-year high of 57.0 this month from 55.8 in December, easily topping expectations for a reading of 55.6 The flash manufacturing purchasing managers’ index declined to 61.2 from a final reading of 63.3 in December. Analysts had expected the index to slip to 63.2 in January.