German business activity grows again

08/5/2013 | Reuters

German private-sector business activity recorded a third consecutive month of growth in July, although the pace of gain is easing from the rate registered in the recovery years of 2010 and 2011. Markit's final composite Purchasing Managers' Index for July climbed to 52.1 from 50.4 in June. "The change in direction for new order volumes provides a strong signal that Germany's output performance can shift back though the gears during the second half of 2013," observed Markit senior economist Tim Moore.

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