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Germany's private sector activity grew at the fastest pace in six months in August, flash data from IHS Markit showed Thursday.
The composite output index improved to 55.7 in August from 55.0 in July. This was the highest reading since February and above the forecast of 55.1.
The services Purchasing Managers' Index rose to 55.2 from 54.1 in July. The score was expected to rise marginally to 54.3.
On the other hand, the manufacturing PMI slid to 56.1 from 56.9 in the previous month. Economists had forecast the index to fall moderately to 56.5.
Phil Smith, principal economist at IHS Markit said, "German business continued to display remarkable resilience during August, with the latest PMI data going some way to dispel any fears about a global trade slowdown and its impact on the health of the economy."
