Germany's composite PMI climbs to 53.8, ahead of forecasts
The reading beat the 51.8 economists had expected for September.
Published
Germany's composite purchasing managers' index rose to 53.8 in September, above the 51.8 that economists had forecast.
The reading points to resilience in economic activity at a moment when the government faces strain on several fronts. The CDU has suffered a collapse in a recent state election, and Berlin is contending with US tariff threats and the prospect of American troop reductions in Germany.
A composite reading above 53 suggests the economy is holding up despite that political and external pressure. It also argues for a more dovish reading of the outlook for interest rates than current market pricing reflects, since strength of this kind gives the European Central Bank less reason to cut.