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S&P Global: Germany's Private Sector Growth Slows in August

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Germany's private sector activity slipped in August, but remained in expansion territory as continued growth in manufacturing offset a services sector slump, data from S&P Global showed Friday.

The S&P Global Flash Germany Composite PMI Output Index came in at 51.0, the lowest in two months and below the July figure and consensus of 51.3.

For the manufacturing sector, the PMI reached a 51-month high of 54.1, against the prior reading of 52.2 and the market forecast of 52.1. On the services side, the PMI slumped to its lowest in three months at 48.5, compared with the previous 49.8 and the consensus estimate of 50.1.

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