German Composite Output Index Falls In September

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Germany's composite output index decreased to 52.2 in September from 54 in August, a flash report from the Markit Economics said on Wednesday.

A reading above 50 indicates expansion, while a reading below 50 signals contraction.

The Purchasing managers index or PMI for manufacturing increased to 49.6 in September from 49.2 in August. Economists were looking for a reading of 50.8.

In Contrast, the services PMI dropped to 52.2 in September from 53.8 in August. Economists expected a reading of 54. Similarly, the manufacturing output index decreased to 52.4 in September from 54.3 in August.

Tim Moore, economist at Markit said, "PMI data suggest that the economy continued to expand in Q3, but the latest figures point to below-trend growth and only a gradual recovery."

Germany's composite output index decreased to 52.2 in September from 54 in August, a flash report from the Markit Economics said on Wednesday. (Market News Provided by RTTNews)