The revised September reading of Germany's services sector Purchasing Managers' Index from S&P Global, released on the 5th, came in at 52.9, up from 49.7 in August, rising above the 50 mark that separates expansion from contraction and reaching its highest level since just before the start of the Iran war. Inflationary pressures strengthened again across the services sector, but business activity picked up and employment rose for a second consecutive month. Surveyed companies reported improved customer demand, and there were signs that investment spending is expanding. Phil Smith, Associate Director of Economics at S&P Global Market Intelligence, said the expansion in business activity in September made the modest signs of recovery seen in the services sector in recent months more certain. The revised September composite PMI, covering both services and manufacturing, came in at 53.8, up from 51.8 in August and the highest level in about a year.
S&P Global IncS&P Global's German services PMI rose to 52.9 with improved customer demand and expanding investment spending, signaling stronger activity for its PMI survey business.
