German business activity grows in August
German business activity expanded modestly in August as stronger manufacturing output offset a decline in services. The composite PMI fell slightly to 51.0 but remained above the growth threshold.
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Germany's business activity expanded modestly during the August morning hours as manufacturing growth offset a contraction in services, survey data showed. The Composite PMI dropped to 51.0 from 51.3 in July, missing the 51.3 consensus forecast by economists. The reading remains above the 50 threshold separating growth from contraction in Europe's largest economy.
