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Service sector remains a bright spot for German economy in June, but its rate of growth slows
The service sector remained a bright spot for the German economy in June as it recorded a rise in business activity for the sixth month in a row, the latest HCOB PMI® survey compiled by S&P Global showed. However, the rate of growth slowed amid signs that the recent resurgence in demand was losing steam. Firms' optimism towards the outlook dropped to its lowest in the yearto-date. Employment in the sector nevertheless continued to rise strongly, with related wage pressures helping fuel a further steep rise in firms' input prices. However, although cost inflation remained elevated, it maintained its recent ... (full story)