German business activity growth slows to near three-and-a-half year low in October
Business activity in the German private sector grew at the slowest rate for almost three-and-a-half years in October, according to the latest PMI® survey data, with both the manufacturing and service sectors showing notable losses of momentum at the start of the fourth quarter. The pace of job creation at German businesses remained relatively solid. However, the survey’s more forward-looking indicators showed some downside risks to future employment growth, with order books barely rising in October and business confidence sinking to its weakest in four years.
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