Seeking Alpha

German services activity accelerates but not as much as thought

  • German Services PMI increased to 53.7 in September (flash 54.4) from 52.8 in August
  • Composite output slipped to 53.2 (flash 53.8) from 53.5.
  • "The recent upturn in new business wins will underpin hopes for a reasonably strong end to 2013 for the service economy," Markit writes. "Service providers continued to recruit additional staff in line with rising business needs and resilient optimism about the economic outlook."
  • DAX +0.1%. (PR)
  • ETFs - Stocks: FGM, EWG, GERJ, EWGS, DBGR. Bonds: BUNL, BUNT, BUND, GGOV
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