German services sector downturn eases in August
Germany's services sector contracted marginally in August as the downturn eased. New business increased for a second straight month, and service providers added staff.
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German Services Contraction Eases on Demand
Germany's services sector contracted marginally in August, with the PMI inching to 49.7 from 49.8 in July. The reading topped the initial estimate of 48.5 as demand picked up across the broader economy. Service providers expanded headcounts for the first time in eight months.
