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Rising COVID-19 cases see German services activity go into reverse, but strong manufacturing upturn continues
A further rise in manufacturing output helped to support growth across the German private sector in October, latest PMI® data from IHS Markit showed. However, in a sign of a two-speed economy emerging, service providers recorded a modest decline in activity amid new restrictions and heightened uncertainty due to a second wave of coronavirus cases. The headline Flash Germany Composite Output Index registered 54.5 in October. Though down slightly from September’s 54.7, the latest reading was still comfortably above the 50.0 no-change mark that separates growth from contraction. Trends at the sector level continued ... (full story)
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