Mediafax (Mediafax)
Macroeconomics  |  July 21, 2012 09:14:50

Markit will publish data on German activity in the service during July


BERLIN (MEDIAFAX) - Markit on Tuesday published data on activity in the service in Germany in July. German private sector activity in June was dropped for the second month in a row and fell to a three-year minimum.

Composite Purchasing Managers' Index (PMI), which combines data from the manufacturing sector and services sector, according to data provider Markit weakened in June from May's 49.3 points to 48.5 points.

Indicator of activity in industry and services sector and fell further below the 50 points that separates growth from decline, and get the lowest since June 2009, which culminated in the global financial crisis.

German economy in the first quarter increased by 0.5 percent and helped to avert a recession in the euro area. According to Markit, however, recent data suggest that Europe's largest economy may fall in the second quarter by 0.1 percent.

Jan Soukup, soukupj@mediafax.cz

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