2017.09.2203:48:00UTC+00Germany's Private Sector Growth Accelerates

Germany's private sector grew at the fastest pace in almost six-and-a-half years in September, flash data from IHS Markit showed Friday.

The composite output index rose unexpectedly for the consecutive second month in September, to 57.8 from 55.8 in August. This was the highest reading since April 2011. The reading was forecast to fall to 55.7.

The manufacturing Purchasing Managers' Index climbed to 60.6 in September from 59.3 in August. The expected reading was 59. The sector logged the sharpest monthly improvement in business conditions since April 2011.

The services PMI improved to a 6-month high of 55.6 from 53.5 in August. The score was above the expected 53.7.

IHS Markit's forecast of 0.7 percent GDP growth in the third quarter remains well within the realms of possibility, Phil Smith, principal economist said.