Business activity in German industry contracted again in February, but at a slower pace than expected. According to market researcher Markit, the purchasing manager index for the industry rose to 47.8 from 45.3 in January.
Economists generally expected a decrease to 44.8. A position of 50 or more indicates growth, below which shrinkage. The index for the service sector in Germany was 53.3 compared to 54.2 a month earlier. The composite indicator recorded a score of 51.1 compared to 51.2 in January.