Economic Buzz: German business activity improves in August

Germany's private sector expanded faster in August, S&P Global said in its report published on Thursday. The Composite Purchasing Managers' Index (PMI) Output Index, which combines services and manufacturing results, rose from July's 51.3 to a five-month high of 51.8.

The Services PMI Business Activity Index declined from 49.8 the previous month to 49.7, remaining below the 50-point threshold separating growth from contraction. New business increased for a second consecutive month, while services employment grew for the first time in eight months.

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