German service sector continued upturn in February

Markit Germany Services Business Activity Index rose from January’s 55.0 to 55.3 in February mainly on account of a sharp rise in the new business.

Key Points

PMI remained above the long-run series average (53.1) for the ninth consecutive month.

New business flooded in at one of the strongest rates seen in the past five years

Companies were able to raise their charges despite input cost inflation slowing further

Employment growth slowed during February