14.12.201703:51:00UTC+00German Private Sector Growth At 80-Month High

Germany's private sector activity expanded at the fastest pace in over six-and-a-half years in December, flash survey results from IHS Markit showed Thursday.

The flash composite output index rose to an 80-month high of 58.7 in December from 57.3 in November. Any reading above 50 indicates expansion in the sector.

Growth accelerated across both manufacturing and services sectors.

The manufacturing Purchasing Managers' Index climbed to a survey record high of 63.3 in December from 62.5 in the previous month. Meanwhile, the index was forecast to drop to 62.0.

The services PMI increased to a 24-month high of 55.8 in December from 54.3 in November. Economists had expected the index to rise to 54.6.