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Economic Buzz: German Services PMI Up Moderately But Near-Term Prospects Look Fragile

Economic Buzz: German Services PMI Up Moderately But Near-Term Prospects Look Fragile

December 03, 2021 4:14 IST | capital market

Germanys services firms recorded another moderate rise in business activity in November following a similar result in October, with the sectors growth having slowed notably since the third quarter. Near-term prospects also dimmed, as a fourth wave of COVID infections saw inflows of new business fall whilst also dampening business confidence. The headline seasonally adjusted IHS Markit Germany Services PMI Business Activity Index registered 52.7 in November. This was up slightly from Octobers six-month low of 52.4 but nevertheless the second-lowest reading since the sector returned to growth in May following the third wave of infections. The seasonally adjusted Germany Composite PMI Output Index registered 52.2, up slightly from Octobers eight-month low of 52.0 but still below its historical series average (53.1).

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The average score for Prestige Estates Projects Limited stands at 4 against 6, three months back.

Prestige Estates Projects Limited is engaged in the business of real estate development. The Company’s principal products/services include Development and construction

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