German Business Activity Misses Forecasts on Industry Weakness

German private-sector activity grew at a weaker pace than anticipated in December as manufacturing unexpectedly recorded its worst performance in 10 months.

S&P Global’s Composite Purchasing Managers’ Index dipped to 51.5 from 52.4 the previous month — keeping above the 50 threshold separating expansion from contraction thanks to a fourth straight month of expansion for services. Analysts had expected an unchanged reading.