Service Activity Contracted in Germany

The service activity in the German economy recorded a contraction during October, by more than analysts’ expectations, to shift from an expansion area to a contraction.

Data released by the Markit Statistics Office on Friday showed that the index of service activity in the German economy recorded 48.9 points during October, compared with 50.6 points in September.

Analysts had expected that service activity in Germany would score 49.6 this month.