Economic news

Private sector in Germany expands at slowest rate in close to four years

German service sector performance pulled back last month because of mounting expenses and sagging business mood, with the private sector at the trough of almost four years, demonstrated a fresh survey.

Composite PMI from IHS Markit, monitoring the manufacturing and service industries with near 70% share in the overall economy, dipped in November to 52.3 from 53.4 the month before.

Phil Smith of IHS Markit said the October-December period is predicted to produce some hike following third quarter’s recession, though the new PMI data suggests a robust recovery can hardly happen.

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