Germany's seasonally adjusted Services Purchasing Managers' Index (PMI) Business Activity Index amounted to 57.6 in April higher when compared to the previous month's 56.1, according to a report by S&P Global released on Wednesday. April's figure represents the highest growth since August last year.
The S&P Global Germany Composite PMI Output Index, combining the results achieved in services and manufacturing, was 54.3 in April, which is lower than the March figure of 55.1.
"The service sector is providing a much-needed boost to the German economy at a time when manufacturing is starting to falter under pressure from renewed supply chain disruption and cooling demand for goods," noted S&P Global Economic Associate Director Phil Smith.
