Germany’s Composite PMI Falls to 52.8 as Services Index Weakens

Germany’s private-sector growth lost momentum in October as a weaker services reading pulled the preliminary composite purchasing managers’ index down, though activity remained in expansion territory.

Germany’s flash composite PMI came in at 52.8, down from 53.8 in September and below the 53.3 consensus estimate. The flash services PMI declined to 51.7 from 52.9, missing the 52.5 estimate.

Both readings remained above 50, the level that separates expansion from contraction. The composite reading marked a two-month low, while the services figure pointed to slower growth in the sector.

Germany and France had each recorded their first services expansion of the year in earlier PMI data.