The German private sector returned to growth at the start of the second quarter, the latest HCOB ‘flash’ PMI® survey compiled by S&P Global showed, driven by a solid rise in services business activity. Although manufacturing remained in contraction, the rate of decline in factory production eased and confidence amongst goods producers towards the outlook reached the highest for a year. On the price front, rates of both input cost and output price inflation ticked up, but they nevertheless registered broadly in line with their respective long-run averages. The headline HCOB Flash Germany Composite PMI Output Index ... (full story)