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Germany’s Services Activity Index Points to the Slowest Growth in Four Months

October 5, 2021 by Forex Winner Leave a Comment

Germany’s Services Activity Index Points to the Slowest Growth in Four Months

Source: IHS Markit

Germany Services Business Activity Index was 56.2 in September, the lowest since May and down from 60.8 in August. DAX is up +0.49%, EURUSD is down -0.15%.

Germany’s Services Activity Index
  • The Composite PMI Output Index fell to 55.5, down from 60.0 in August, the lowest since February.
  • Transport & Storage was the main drug on services activity, reflecting slowdowns in manufacturing.
  • The growth of new business eased for the second consecutive month, down further from July peak. Backlogs of orders grew solidly in September.
  • Job growth expanded for the 15th month as hiring continued, albeit at a slower pace, reflecting the addition of capacity by businesses.
  • Inflationary pressures were at a near-record rise. Output prices rose, with manufacturing posting a higher rate than services.
  • Growth expectations by firms eased for the third straight month to remain subdued below a record high in June. 

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