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German service sector activity continues to rise at above-average pace
German service providers reported further increases in business activity and new orders at the beginning of the third quarter. Moreover, companies were encouraged to further add to their payrolls, which in turn helped reduce business outstanding. Input and output prices both rose at rates that were little-changed from June, while optimism towards the 12-month outlook for activity dipped to a sevenmonth low. The seasonally adjusted final Markit Germany Services Business Activity Index posted 53.8 in July, unchanged from June’s reading. Service sector output has now risen for 26 months running, and the pace of ... (full story)