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German flash manufacturing PMI rises to 3-month high

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Nov 23, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
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    FXStreet (Mumbai) - As reported by Markit, November data signalled a continuation of private sector output growth in Germany, with the pace of expansion accelerating slightly since October.

    The headline manufacturing PMI for Nov rose to a 3-month high at 52.6 versus 52.1 seen in Oct, and beat expectations of a 52.2 reading. While the services sector activity increased sharply to 55.6 in Nov, against 54.5 booked last month and hit a 14-month high.

    Thus, the Markit Flash Germany Composite Output Index rose to 54.9, up from 54.2 in Oct.

    Oliver Kolodseike, Economist at Markit and author of the Flash Germany PMI®, stated: “Private sector output growth in Germany accelerated further in November, partly driven by efficiency improvements and increased new order intakes, according to panel evidence. In fact, the rise in new business was a particularly bright spot in the data set, with the respective pace of expansion the fastest in two years. Moreover, it looks as if businesses will remain busy in coming months: backlogs of work accumulated at one of the strongest rates over the past four-and-a-half years and companies raised their employment levels to the greatest degree since December 2011 in anticipation of higher new business.
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