December’s data indicated a return to expansion of Germany’s private sector economy. Output rose marginally for the first time since April, led primarily by the services economy where activity increased at a solid pace. In contrast, manufacturing production continued to fall – and at a faster pace than in the previous month. After accounting for seasonal factors, the Markit Flash Germany Composite Output Index recorded 50.5 in December, an improvement on November’s 49.2 and the first reading above the 50.0 no-change mark that separates growth from contraction for eight months. The service sector underpinned the ... (full story)