German service sector contracts in April amid rising inflation and uncertainty

Germany's service sector saw business activity fall for the first time in eight months in April, according to the latest PMI® survey results. The downturn reflected a further squeeze on demand as firms recorded rising inflationary pressures and elevated uncertainty associated with the ongoing war in the Middle East. The headline S&P Global Germany Services PMI® Business Activity Index is based on a single question asking how the level of business activity compares with the situation the month before. A reading above 50.0 signals expansion, and the further above 50.0 the faster the rate of growth signalled. The ... (full story)