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German Output growth picks up, driven by solid rise in service sector activity
German private sector companies reported accelerated activity growth in July, as highlighted by the seasonally adjusted Markit Flash Germany Composite Output Index risin g from 54.0 in June to a three - month high of 55.9 . The current sequence of continuous output growth now stretches to 15 months. The driver of the stronger expansion was the service sector, where activity growth hit a 37 - month high . While manufacturing outp ut also rose at a sharper rate, growth was weaker than seen at the beginning of the year. Companies generally linked higher output to (partly unexpected) increased order inflows and new ... (full story)