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Fastest German output growth in over two years as new orders and backlogs rise
Germany’s private sector recorded its strongest growth for almost two-and-a-half years at the start of the fourth quarter, driven in large part by a solid increase in services business activity, the latest ‘flash’ HCOB PMI® survey data showed. The upturn in output was supported by a renewed expansion in intakes of new work, while employment came close to stabilising as backlogs showed their first rise since mid-2022. Latest data did, however, show a broad-based easing of businesses expectations for the year ahead. With growth strengthening and demand improving, inflationary pressures rose. There were faster ... (full story)
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