Germany November final services PMI 49.6 vs 48.7 prelim ...Middle East

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Germany November final services PMI 49.6 vs 48.7 prelim
Prior 48.2Composite PMI 47.8 vs 47.1 prelimPrior 45.9That's a decent revision higher, which shows that the German services sector just marginally contracted last month. This comes as the downturn in new businesses are seen easing. However, wage pressures are accelerating and that is pushing up overall costs. So, that is something to be wary about in the months to come as well. HCOB notes that:“These numbers for the German service sector defy the gloom one might have anticipated amid the manufacturing sector recession. Although service activity saw marginal shrinkage in November, a consistent downward spiral is notably absent. Instead, most indicators show that the problems of the sector are

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