Economics
German Services Output Weakens as Factories Sustain Strength
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Services activity in Germany slowed more than analysts predicted as manufacturing strengthened further, highlighting the uneven pace of growth in the euro area’s largest economy.
A Purchasing Managers Index for services slipped to 54.8 in June from 56.0 in May, while a factory gauge rose to 52.4 from 52.3, London-based Markit Economics said today. Economists surveyed by Bloomberg News had predicted readings of 55.8 and 52.5, respectively. A measure of French activity in both industries showed contraction for a second month.