Economic Buzz: Germany Services PMI At 52.4 In June

5 Jul 2022 , 02:44 PM

The seasonally adjusted headline S&P Global Germany Services PMI Business Activity Index registered 52.4 in June. This was down from 55.0 in May and pointed to a further loss of growth momentum from Aprils recent peak. The latest reading was the lowest for five months. Growth of business activity across Germanys service sector slowed notably in June. Data reflected the easing of post-lockdown catch-up effects, the loss of momentum also owed in part to rising economic uncertainty and sustained strong price pressures, which resulted in a first drop in new business for six months. Business confidence towards future activity waned to its lowest since October 2020.Powered by Commodity Insights