German Business Activity Stabilizes in Pre-Election Boost

German business activity stabilises in January, PMI shows

Business activity in Germany's private sector stabilised in January, marking an end to a six-month contraction as services growth offset a continued decline in manufacturing output, according to a survey published on Friday. The HCOB German flash composite Purchasing Managers' Index, compiled by S&P Global, rose to 50.1 in January, up from 48.0 in December, reaching a seven-month high and crossing the 50.0 threshold that separates growth from contraction. "The PMI offers some hope that Germany might dig itself out of the recessionary phase of the past two years," said Cyrus de la Rubia, chief economist at Hamburg Commercial Bank.

Reuters

•

1 hour ago