German private sector activity slows down in September

FXStreet (Mumbai) - The preliminary data released by Markit today showed the German private sector activity in September cooled down to two-month low of 54.3 from 55.0 in August.

The manufacturing PMI printed at 52.5, while the services PMI printed at 54.3; both at 2-month lows.

Key Points in official report

Manufacturers reported a second successive monthly rise in new export orders. Private sector employment in Germany rose in September. Moreover, the rate of job creation accelerated fractionally since August and was the strongest since December 2011.

Input costs rose only marginally, with goods producers signalling the steepest drop in input prices since January. Manufacturers attributed the decline to lower prices for energy, oil and some raw materials. Meanwhile, service providers reported a further increase in input costs.

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