Mumbai, Oct. 3 -- German service firms recorded a modest increase in business activity that was the quickest seen for eight months in September, according to the latest HCOB PMI survey data.
The rise in activity was recorded despite not only a second straight monthly decline in inflows of new work, but also a notable reduction in employment in the sector - the steepest seen in over five years. Still, firms remained optimistic about the year-ahead outlook, and even slightly more so than in August.
On the price front, the latest data showed a sustained steep rise in firms' operating expenses, which reports from surveyed companies mainly attributed to wage pressures. Output price inflation meanwhile edged higher, taking it further above its ...