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German PMI rises to six-and-a-half year high as manufacturing booms

Friday, Sep 22 2017
German PMI rises to six-and-a-half year high as manufacturing booms

Germany’s private sector economy ended the third quarter strongly, with business activity growth accelerating to the fastest in almost six-and-a-half years, according to flash PMI® survey data from IHS Markit. Improved performances were seen across both manufacturing and services in September, though it was the former that continued to show the much faster rate of expansion. Flash Germany Services PMI Activity Index came at 55.6 (53.5 in August), a 6-month high, while  Flash Germany Manufacturing PMI rose to 60.6 (59.3 in August), a 77-month high.

The IHS Markit Flash Germany Composite Output Index rose for the second month running in September to 57.8, up from 55.8 in August and its highest reading since April 2011. Average growth across the third quarter as whole was robust but slightly below that seen in quarter two, reflecting the comparatively subdued rate of expansion seen in July.

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