German Aug. Composite Output Index At 15-Month High

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The Markit Flash Germany Composite Output Index stood at 54.2 in August, which was the highest reading for fifteen months, the latest survey from the Markit Economics showed Friday. The index reading for July was 49.

The Flash Manufacturing Purchasing Managers' Index moved up to 49 from 45.7 in July, while services PMI rose to 54.1 from 48.1 last month.

Tim Moore, economist at Markit said, "August data pointed to vastly improved performances in both the manufacturing and service sectors, indicating that the German economy remained on the path to recovery from its hard landing at the start of 2009."

The Markit Flash Germany Composite Output Index stood at 54.2 in August, which was the highest reading for fifteen months, the latest survey from the Markit Economics showed Friday. (Market News Provided by RTTNews)