Mumbai, April 23 -- Business activity in Germany's private sector declined in April for the first time in nearly a year, according to the latest S&P Global Flash PMI data, as the war in the Middle East weighed on demand and costs. The Composite Output Index fell from 51.9 in March to 48.3, dropping below the 50.0 threshold and marking the weakest reading since December 2024.
The downturn was mainly driven by the services sector, where activity fell sharply to 46.9, the lowest level in almost three-and-a-half years. Manufacturing output continued to grow, but the pace slowed significantly, with its index easing to 51.7 from a 49-month high in March.
New business declined at the fastest rate since December 2024, led by a sharp fall in servi...