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German business activity ticks up in September despite ongoing fragility in demand
German service firms recorded a modest increase in business activity that was the quickest seen for eight months in September, according to the latest HCOB PMI® survey data. The rise in activity was recorded despite not only a second straight monthly decline in inflows of new work, but also a notable reduction in employment in the sector – the steepest seen in over five years. Still, firms remained optimistic about the year-ahead outlook, and even slightly more so than in August. On the price front, the latest data showed a sustained steep rise in firms' operating expenses, which reports from surveyed companies ... (full story)
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