Investing.com - German private sector output continued to grow at the robust pace in seen in the previous two months in December, according to data released on Thursday.
The preliminary reading of the Markit manufacturing purchasing managers’ index came in at 35-month high of 55.5 this month from 54.3 in November.
Economists had expected a slight uptick to 54.5.
The services PMI slid to 53.8, compared to expectations for 54.9 and down from 55.1 a month earlier.
The composite output index, which measures the combined output of both the manufacturing and service sectors ticked down to 54.8 from 55.0, in line with forecasts.
A reading above 50.0 on the index indicates industry expansion, below indicates contraction.
“December’s flash PMI signalled a strong end to the year for German private sector firms. With readings for October and November also pointing to marked output growth, the data suggest that the rate of GDP expansion is likely to have accelerated in Q4 from the disappointing 0.2% in the third quarter”, Philip Leake economist Markit said.