Germany PMI Manufacturing dropped slightly to 58.2, down from 58.4, better than expectation of 56.8. That’s still a 9-month low. PMI Services dropped notably to 52.4, down from 56.2, below expectation of 55.2, a 6-month low. PMI Composite dropped to 52.0, down from 55.5, an 8-month low.



Phil Smith, Associate Director at IHS Markit said: “October’s flash PMI data point to economic activity in Germany beginning to plateau at the start of the fourth quarter. Growth has slowed to a modest pace, with supply bottlenecks holding back manufacturing production and the rebound in services activity continuing to lose momentum, in part due to supply issues spilling over to the sector.”

source_actionforex.com