23rd Jan 2015 09:05
BERLIN (Alliance News) - Germany's private sector remained in expansion territory in January, signaling a further rise in the private sector output.
The flash composite output index rose to 52.6 in January from 52 in December. This was the strongest growth in three months. A score above 50 indicates expansion in the sector.
Companies largely attributed higher demand to increased new orders. Output growth strengthened across both the services and manufacturing sectors.
The services Purchasing Managers' Index rose to 52.7 from 52.1 in December. The expected score was 52.5.
Meanwhile, the manufacturing PMI fell unexpectedly to 51 from 51.2 in December. It was forecast to rise to 51.7.
Ending two-month stretch of contraction, new work in the private sector increased in January. The labor market showed further strength in January with employment rising for the fifteenth consecutive month.
Input prices dropped for the second successive month in January. At the same time, the rate at which selling prices were lowered was the strongest since February 2010.
Copyright RTT News/dpa-AFX