Germany: Services PMI falls to 52.5 points in October; composite index at 53.4

(Il Sole 24 Ore Radiocor) - In Germany, private-sector services activity remained in expansionary territory in October, although the pace of growth slowed compared with the previous month. The S&P Global PMI index, compiled from surveys of purchasing managers in the sector, fell to 52.5 points from 52.9 points in September. October saw an increase in economic activity “for the second consecutive month” in the services sector, “albeit at a slower pace”.

A further decline in new orders helped to slow the pace of growth, whilst also leading to the first fall in employment in the sector for three months.

On the positive side, there has been a slowdown in the rate of inflation in input prices borne by service providers, whilst expectations regarding business activity over the next 12 months have become increasingly

optimistic.

The composite index for October also fell, dropping to 53.4 points from 53.8 in September, its highest level in the last 11 months.