Mumbai, July 3 -- Germany's services sector remained in contraction for the third consecutive month in June, although the pace of decline eased slightly as weak demand continued to weigh on business activity, according to the latest S&P Global PMI survey.
The S&P Global Germany Services PMI Business Activity Index rose to 48.6 in June from 48.1 in May but stayed below the 50.0 no-change mark, signalling a moderate contraction. The latest reading was the highest in the current three-month downturn.
New business declined for the fourth straight month, with firms citing difficult economic conditions, tighter financial conditions and weak domestic confidence. New export orders also fell sharply, contributing to another decline in outstanding ...