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Germany's September Services PMI Returns to Expansion, Manufacturing PMI Slightly Below Forecast
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According to a report from Cailianshe on September 23, the preliminary German manufacturing Purchasing Managers' Index (PMI) for September came in at 53.8, slightly below the market expectation of 54 and down from the previous month's reading of 54.3. Meanwhile, the German services PMI for September rose to 52.9, significantly exceeding the forecast of 50 and improving from the prior reading of 49.7. These figures indicate a mixed performance in Germany's key economic sectors at the start of the third quarter, with manufacturing activity contracting slightly more than anticipated while the services sector returned to expansionary territory after a contraction in the previous month.
Source report
Date: September 23
Key Highlights:
- Manufacturing PMI (Preliminary): 53.8
- Expected: 54.0
- Previous: 54.3
- Services PMI (Preliminary): 52.9
- Expected: 50.0
- Previous: 49.7
Source
财联社Neutral / independent