Germany PMI Services was finalized at 49.9 in April 49.9 in April, down from March’s 51.5, back below the 50 no-change threshold. PMI Composite stayed strong at 55.8, despite retreating from March’s 37-month high of 57.3.
Phil Smith, Economics Associate Director at IHS Markit said: “The tightening of COVID-19 lockdown measures in April stopped the service sector’s recovery in its tracks… The continued strong performance seen in manufacturing is spilling over to services, notably supporting a rise in activity for transport & storage businesses…. April’s survey highlighted a continued rise in cost pressures across the service sector, albeit at nothing like the same rate as seen in manufacturing.”
