IHS Markit has released its PMI data for Germany, showing that increasing cases of COVID-19 have caused a contraction in services activity, although the strong recovery in the manufacturing sector continues.
The Manufacturing PMI preliminary for the month of October showed a increased to 58 points from 56.4 in September, improving the 55.1 estimated. This is the best result recorded by the indicator in the last 30 months, specifically since April 2018.
The Services PMIInstead, it contracted to 48.9 from 50.6 the previous month, disappointing the 49.2 expected by the market and marking the worst figure of the last four months.
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Credits: Forex Street
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