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.
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.