- Demand for services fell for the second consecutive month in October.
- New orders fell at the sharpest pace for nine months.
- Employment stagnated across the services sector.
- Input prices in the services sector continued to rise sharply, though at a slower pace than the series average.
- However, output prices across the services sector trended higher, offsetting falling prices across the manufacturing sector.
- Business confidence weakened but remained stronger than sentiment across the manufacturing sector.
Germany’s Private Sector Faces Ongoing Contraction
Germany, previously the Eurozone’s economic engine, continued to face challenges. The HCOB Composite PMI increased from 47.5 in September to 48.4 in October. The services sector showed signs of improvement as the HCOB Services PMI climbed…
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