Deutschland Einkaufsmanagerindex Dienstleistungssektor

The HCOB Germany Services PMI dropped to 49.4 in November 2024, down from 51.6 in the prior month and defying market forecasts of 51.6, preliminary estimates showed. The latest reading indicated a renewed contraction in the country's service sector for the first time in nine months. Weak demand led to a continued decline in new work, reducing backlogs and prompting staffing cuts. On the price front, inflationary pressures picked up in November, as firms raised charges to the greatest extent since April amid a steep and accelerated increase in operating expenses. Looking forward, businesses’ expectations towards activity in the forthcoming year deteriorated from the month before.