Germany’s services industry expanded at the fastest pace in four months in June, while the nation’s manufacturing industry continued to contract.
An index of the services industry based on a survey of purchasing managers rose to 51.3 this month from 49.7 in May, London-based Markit Economics said today. That is the highest reading since February and exceeded the median estimate of 50.0 in a Bloomberg News survey of 29 economists. A reading above 50 indicates expansion.
A gauge of German manufacturing fell to 48.7 in June from 49.4 in the prior month, Markit said in the same report. Economists had projected a reading of 49.9 for that index.
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