Well,Germany’s dominant service sector will be increasingly relied upon to deliver growth. The sector’s PMI reading rose to 55.4 in September, a rise of 0.5 points on the previous month.
“September’s flash PMI results paint a mixed picture of the health of the German economy at the end of the third quarter”, said Mr Kolodseike. Markit expects German GDP to rise by just 0.4pc in the quarter.
Meanwhile, incoming minimum wage legislation, scheduled for January 2015 has “weighed on service sector sentiment, with business expectations the lowest in nearly two years”, Mr Kolodseike said.
Equivalent PMI numbers for France showed both its manufacturing and services sectors in contractionary territory - at 48.8 and 49.4 respectively.
The data suggest that the nation’s zero growth trend could continue. INSEE today confirmed that France’s economy managed no growth at all in the second quarter of the year. here is a surprise... for all the EUSSR diplomats' bravado about hurting Russia in the medium and long term... we come to hear about how badly this is hurting the EU itself round about NOW, which will not recover its food market in Russia or have the same growth opportunities there from now on as Russia seeks to cut ties and strengthen their links with the 2/3 of the world population and more than 50% of world GDP that does not have a problem with Putin... anyone up to start calculating how much this is costing the EU? as I don't think we'll be getting that snippet of info out the Treasury any time soon...
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