Germany's Business Activity Accelerates in September as Services Return to Growth
Business activity in Germany accelerated in September, with the flash Composite Output Index rising to a reading of 53.8 from 51.8 in August. This marks an 11-month high and exceeded market expectations of 51.8. The improvement was driven by strong performance in the services sector. The Services PMI climbed to 52.9, up sharply from 49.7 a month earlier, ending five months of contraction with its highest reading since February. This outperformed forecasts for an index level near 50 and signals renewed growth in one of Germany's key economic sectors. These figures suggest that the German economy is showing signs of stabilization after several months of stagnation or decline, which could influence investor sentiment toward European markets.
Topics: Composite Output Index economic growth Germany Services PMI