Germany services PMI final for August 49.7, down slightly from July’s 49.8 but
revised up from a 48.5 preliminary reading. The index remains below 50, yet
firms reported improved demand and employment while citing tighter financial
conditions, elevated costs and cautious clients as headwinds. S&P Global Market
Intelligence associate director Phil Smith said activity is more stable than a
few months ago and underlying demand and employment indicators are sending
encouraging signals.
