German services PMI for October revised lower

FXStreet (Mumbai) - The German final PMI was revised lower to 54.5 from the preliminary estimate of 55.2, although the actual figure has ticked higher from September’s 54.1.

New orders also continued to increase, although the pace of expansion slowed since September. Companies recorded a slight easing in inflationary pressures. However, optimism towards the 12-month outlook for activity fell to its lowest level since the end of last year.

The final Markit Germany Composite Output Index rose fractionally from 54.1 to 54.2.