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21 May 2015
German private sector activity slows down in May
FXStreet (Mumbai) - Markit Flash Germany Composite Output Index fell from April’s 54.1 to 52.8 in May. Manufacturing PMI fell to 51.4, missing the estimate of 52.3 and down from April’s 52.1, while the services PMI fell to 52.9, missing the estimate of 53.9 and down from April’s 54.0.
German private sector companies also signalled a weaker rise in new business, with new export orders rising for the fourth consecutive month. The rate of job creation accelerated slightly since April. The input cost accelerated further and was the strongest in just over two-and-a-half years. Consequently, the rate of output price inflation rose to the highest since January 2014.
As per Oliver Kolodseike, Economist at Markit and the author of the Flash Germany PMI, “May’s flash PMI results signalled a further slowing in economic growth in Germany’s private sector. Companies reported weaker expansions in both output and new orders, with some survey participants commenting on weak demand, economic uncertainties and rising cost pressures.”
German private sector companies also signalled a weaker rise in new business, with new export orders rising for the fourth consecutive month. The rate of job creation accelerated slightly since April. The input cost accelerated further and was the strongest in just over two-and-a-half years. Consequently, the rate of output price inflation rose to the highest since January 2014.
As per Oliver Kolodseike, Economist at Markit and the author of the Flash Germany PMI, “May’s flash PMI results signalled a further slowing in economic growth in Germany’s private sector. Companies reported weaker expansions in both output and new orders, with some survey participants commenting on weak demand, economic uncertainties and rising cost pressures.”