5 Aug 2015
German services PMI stayed unchanged at 53.8 in July
FXStreet (Mumbai) - The final Markit Germany Services Business Activity Index posted 53.8 in July, unchanged from June’s reading. This was the 26th consecutive month of expansion.
The pace of new work expansion accelerated slightly from June but remained relatively subdued. Service sector employment rose further during July. The input price inflation increased further in July mainly due to to exchange rate factors and higher staff costs. Despite rise in input costs, the service charges slowed amid fierce competition.
The composite PMI remained unchanged at 53.7 in July; unchanged from June’s reading, signaling further solid activity growth at German private sector firms.
The pace of new work expansion accelerated slightly from June but remained relatively subdued. Service sector employment rose further during July. The input price inflation increased further in July mainly due to to exchange rate factors and higher staff costs. Despite rise in input costs, the service charges slowed amid fierce competition.
The composite PMI remained unchanged at 53.7 in July; unchanged from June’s reading, signaling further solid activity growth at German private sector firms.