Germany’s final services PMI for May rose to 48.1, exceeding the preliminary reading and signaling a slower contraction in the sector.
Germany’s final services PMI for May was revised up to 48.1, above the preliminary estimate of 47.8 and the prior month’s 46.9. The reading indicates a moderating contraction in the services sector, though it remains below the 50 threshold separating growth from decline.
The composite PMI, which includes both services and manufacturing, also improved to 48.8 from a preliminary 48.6 and April’s 48.4. Economists had anticipated a slight uptick, but the final figures surpassed expectations, suggesting resilience in Europe’s largest economy.
The data follows recent signs of stabilization in German economic activity, though persistent weakness in manufacturing continues to weigh on overall growth prospects.