German services PMI climbs to 51.4, indicating expansion
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The HCOB Germany Services PMI increased to 51.4 in October 2024, up from 50.6 the previous month and exceeding market forecasts of 50.6, according to preliminary estimates.
German services PMI climbs to 51.4, indicating expansion
This reading reflects the German services sector expansion for the eighth consecutive month and indicates the fastest growth since July, although the overall pace remains modest. Despite a reduction in employment levels compared to September and a decline in new business inflows for the second-month running, business expectations have notably improved.
Input inflation hits lowest since February 2021, output price growth slows
On the pricing front, input inflation declined, reaching its lowest since February 2021. While output prices increased, the growth rate slowed to its weakest in three-and-a-half years.
