PMI data for erhvervstillid i Tyskland fra Markit:
Summary:
November’s flash data signalled a further slowing in private sector output growth in Germany, as highlighted by the seasonally adjusted Markit Flash Germany Composite Output Index falling from 53.9 in October to 52.1. While activity has now risen for 19 months running, the pace of expansion was the slowest since July last year, with companies commenting on a lack of new business. Sector data suggested that output growth slowed at both manufacturers and service providers. That said, the expansion in output at goods producers was broadly in line with the average for the third quarter, while service sector business activity increased at the weakest rate in 16 months. The amount of new business placed at German private sector firms was unchanged since October, thereby ending a 16-month period of expansion. Manufacturers reported the steepest drop in new work in nearly two years and attributed this to economic uncertainty and weaker demand from both domestic and foreign markets. New export orders fell for the first time since July 2013. Meanwhile, new orders placed with service providers increased further, albeit at the slowest pace since January.
The labour market showed further resilience to the growth slowdown in Germany’s private sector, with companies increasing their workforce numbers for the thirteenth month running. The rate of job creation slowed, however, to a three month low. Private sector backlogs in Germany’s private sector meanwhile continued to fall in November, signalling ongoing spare capacity in the sector. According to anecdotal evidence, a lack of incoming new business helped companies to process existing orders.
