German private sector contraction eases in November

Note: This section contains information in English only.
Source: RTTNews
© scanpix/AFP
German private sector halted to slowdown in November according to Markit Economics. Yet, the services activity shrank the most in more than three years this month. The flash composite output index, tracking private sector's performance, including manufacturing and services, advanced to 47.9 in November from 47.7 the prior month. The flash purchasing managers' index increased from 46 in October to 46.8 this month, while the manufacturing output index rallied to 47.7 in November, up from 46.3 the previous month. Alongside, the services activity index tumbled to 48 this month, touching the lowest level in 41 months. The index has stayed below 50 for seven consecutive months, indicating contraction.
"Companies are struggling now, particularly those in the manufacturing sector as they're reeling from very weak demand in overseas markets," said Chris Williamson, Markit chief economist.
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