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Germany PMI indicates growth slowdown
The Purchasing Managers' Index (PMI) in Germany showed a slowdown in economic activity growth in October, falling to 52.8 points from 53.8 points in September, marking the lowest level in two months, though it remained above the 50-point threshold indicating expansion. The services sector's activity declined to 51.7 points, the lowest in two months, while manufacturing saw a modest increase to 54.2 points from 53.9 points, reaching the highest level in two months. New business orders across the private sector experienced a slight rise in October, with demand in the services sector stagnating due to client delays, whereas manufacturing activity increased thanks to ongoing export sales. Business volumes did not change significantly; the services sector showed a fresh decline in work backlog, while manufacturing saw a slight rise. Employment continued to grow modestly in the services sector, with manufacturing employment approaching stability.
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