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Momentum builds in German economy
Business activity rose in Germany for the second month running and at a faster rate in May, the latest HCOB ‘flash’ PMI survey compiled by S&P Global showed. Alongside stronger growth in the service sector, manufacturing output moved closer to stabilisation. There was also a pick-up in hiring activity as firms reported stronger demand and greater optimism towards the outlook. Price pressures meanwhile eased across the eurozone’s largest economy mid-way through the second quarter. Businesses raised output prices at the slowest rate since the start of 2021 amid a cooling of input cost inflation. After having ... (full story)