German Composite PMI at 52 in November

The IHS Markit Flash PMI for Germany dropped to a five-month low in November, according to data published on Monday.

At 52 for November, the Composite PMI fell due to the tightening of coronavirus restrictions across Germany. However, the country’s manufacturing sector continued to show “strong growth, helping to support overall economic activity,” according to the report.

“As expected, the introduction of new lockdown measures in November to combat the spread of COVID-19 has had a disruptive impact on German economic activity, with the flash PMI data showing the service sector suffering its worst performance since May,” Phil Smith, associate director at IHS Markit, commented on the data.



Breaking the News / JC



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