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03.03.2016 10:31

Germany's final services PMI rises to 55.3 in February

Markit Economics released final services purchasing managers' index (PMI) for Germany on Thursday. Germany's final services purchasing managers' index (PMI) rose to 55.3 in February from 55.0 in January, up from the preliminary reading of 55.1.

The index was mainly driven by a faster growth in new orders.

"Today's PMI results for Germany's service sector offer some relief and suggest that the Eurozone's largest economy is not performing as poorly as signalled by the manufacturing numbers earlier this week. However, trends in the two sectors are clearly diverging, with manufacturers recording the weakest growth of production in 14 months, while service sector firms enjoyed a further above average expansion," an economist at Markit, Oliver Kolodseike, said.

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