Germany PMI Manufacturing dropped slightly to 66.4 in April, down from 66.6, above expectation of 65.9. PMI Services dropped to 50.1, down from 51.5, below expectation of 50.8. PMI Composite dropped to 56.0, down from 57.3.
Phil Smith, Associate Director at IHS Markit said: “The third wave of the pandemic has stifled progress in Germany’s service sector, with April ‘s flash PMI data showing activity close to stalling following the return to growth at the end of the first quarter. The country’s manufacturing sector remains on a strong footing, though even here the data show growth being held back by supply problems.
