- Prior 44.5
- Services PMI 57.8 vs 55.3 expected
- Prior 56.0
- Composite PMI 54.3 vs 53.5 expected
- Prior 54.2
Once again, it’s another heavily contrasting report in Germany as manufacturing conditions deteriorate further but that is offset by stronger activity in the services sector. The headline is a 36-month low while the services reading is a 21-month high, so that exemplifies the divergence in both areas of the economy at the moment. HCOB notes that: