Germany's business activity expanded slightly in August as a manufacturing rebound offset a renewed services downturn. S&P Global's composite PMI fell to 51.0 in August from 51.3 in July (consensus 51.3). The manufacturing PMI rose to 54.1 from 52.2, the highest in 51 months. The services PMI slipped to 48.5 from 49.8, a three-month low and the fifth consecutive monthly decline, the fastest fall since May. S&P Global Market Intelligence said manufacturing momentum has returned after signs of a Q

Germany's business activity expanded slightly in August as a manufacturing rebound offset a renewed services downturn. S&P Global's composite PMI fell to 51.0 in August from 51.3 in July (consensus 51.3). The manufacturing PMI rose to 54.1 from 52.2, the highest in 51 months. The services PMI slipped to 48.5 from 49.8, a three-month low and the fifth consecutive monthly decline, the fastest fall since May. S&P Global Market Intelligence said manufacturing momentum has returned after signs of a Q2 stall, while new orders and services employment rose modestly for a second month, suggesting activity may soon stabilise.