Germany: Flash PMI drops in November as manufacturing and services sectors deteriorate
November 20, 2014
Markit’s composite Purchasing Managers’ Index (PMI) edged down to 52.1 in November from a revised 53.9 in October (previously reported: 54.3). Despite the decline, the composite PMI—the result of a survey of over 1,000 manufacturing and services businesses based in Germany—has remained above the 50-threshold since April 2013.
According to Markit, November’s reading marked a 16-month low and reflected a deterioration in both the manufacturing and services sectors. Markit pointed out that, “the expansion in output at goods producers was broadly in line with the average for the third quarter, while service sector business activity increased at the weakest rate in 16 months.”
Author: Cecilia Simkievich, Economist