FinanceSQ

Germany Wins Over Crisis

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Germany is one of the few European countries that handled crisis time better than others. Proof of this is the fact that Germany’s private sector activities showed growth in July.

The Flash PMI Composite Output Index, used to measure the economic trends in the manufacturing and service sectors, grew 8.5 points to reach 55.5.

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The Flash Germany Services PMI Activity Index increased 9.4 to 56.7, a 30-month high, while the Flash Germany Manufacturing PMI stood at 50.0, up to 4.8 points, and the highest was in 19 months.

IHS’s Phil Smith said, asserting that “one of the main concerns remains the labor market, and the ongoing cuts to manufacturing jobs in particular, with July, even seeing a slight acceleration in factory job losses.”

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