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Markit Economics released final services purchasing managers' index (PMI) for Germany on Thursday. Germany's final services purchasing managers' index (PMI) rose 54.9 in August from 53.8 in July, up from the preliminary reading of 53.6.
The index was driven by rises in output, new orders and employment.
"Today's PMI results suggest that Germany's service sector is in good shape. Activity increased at the fastest pace for five months, with hotels and restaurants reporting particularly strong growth. Companies also noted a stronger rise in new business, which in turn encouraged them to further add to their workforce numbers," an economist at Markit, Oliver Kolodseike, said.
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