Final PMI: German Private Sector Contraction Eases in June

Germany's private sector remained in contraction territory for the third straight month in June, as a sustained yet slower pace of decline in service sector activity overshadowed an increase in manufacturing output. The final S&P Global Germany Composite PMI Output Index ticked up to 49.5 in June from 48.8 earlier, S&P Global said Friday. The final reading was above the flash estimate of 48 but slightly below the 50-point neutral mark. For the service sector, the final PMI clocked in at 48.6, compared with the initial estimate of 46.8 and the previous month's 48.1.