In Germany, the composite Purchasing Managers Index (PMI) rose 0.8 to 52.8 points in November, driven by the services sector, despite continued supply bottlenecks and high inflation. According to the pioneering PMI data prepared by IHS Markit, the composite PMI, which was 52 in October in Germany, the locomotive country of the European economy, was determined as 52.8 points in November.
PMI RISES OVER EXPECTATION The expectation was for the index to decline to 51 points. Services sector PMI data rose to 53.4 from 52.4 in November, showing better signs of growth despite an increase in the number of coronavirus cases.
HIGHEST LEVEL IN 10 MONTHS, YET Manufacturing industry PMI in the country, on the other hand, dropped to 57.6 from 57.8, the lowest level in 10 months.
INFLATION IN GERMANY INCREASED TO 4.5 PERCENT FOR THE FIRST TIME
In Germany, the locomotive of the European economy, annual inflation, which was 4.1 percent in September, rose to 4.5 percent in October for the first time since 1993, with the effect of energy prices, supply problems and the epidemic. Due to the increase in private consumption, the German economy grew by 1.8 percent in the third quarter compared to the previous quarter. In Germany, the government revised its official growth expectation, which was previously announced as 3.5 percent, to 2.6 percent on October 27 due to the persistent effects of the coronavirus outbreak and supply chain difficulties.
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