Market news

23 September 2015

Germany's preliminary manufacturing and services PMIs fall in September

Markit Economics released its preliminary manufacturing purchasing managers' index (PMI) for Germany on Wednesday. Germany's preliminary manufacturing PMI declined to 52.5 in September from 53.3 in August, missing forecasts of a decrease to 52.8.

Germany's preliminary services PMI was down to 54.3 in September from 54.9 in August. Analysts had expected index to decline to 54.6.

Markit's economist Oliver Kolodseike noted that the German economy was partly driven by higher output.

"Digging a bit deeper into the data suggests that the German economy is set to grow further in the coming months. New orders rose at the strongest rate in almost two years, with companies benefitting from a positive economic environment and improved demand from both domestic and foreign clients," he noted.

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