World Economy

German Private Sector Slows

German Private Sector SlowsGerman Private Sector Slows

German private sector activity slowed to a two-month low of 54.4 in August, down from 55.3 in July, according to the Markit flash composite index out on Tuesday, CNBC reported. German service sector activity came in at a 15-month low of 53.3, down from 54.4 in July. Readings over 50 signal economic expansion, but the declining numbers suggest growth is slowing. “Output, new orders and employment all rose at slightly weaker rates during the month, thereby signaling that business conditions have become a bit more challenging since the prior month,” Oliver Kolodseike, economist at IHS Markit, said.