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- Business activity in Germany’s service sector grew at the slowest rate for 19 months in April
Business activity in Germany’s service sector grew at the slowest rate for 19 months in April
Business activity in Germany's service sector grew at the slowest rate for 19 months in April, the pace of expansion pulling back further from a near seven-year high at the beginning of the year. Service sector new orders showed the weakest rise since July last year, which contributed to a softening of firms' optimism towards the outlook. There was better news on the employment front however, with the pace of job creation ticking up to a three-month high.
The seasonally adjusted final IHS Markit Germany Services PMI Business Activity Index registered 53.0 in April, down from 53.9 in March (and a preliminary 'flash' estimate of 54.1) and its lowest since September 2016.
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