by ForexNewsNow Team on October 21st, 2010

German services, manufacturing PMIs defy forecasts

NEW YORK (Forex News Now) – Activity in Germany’s services and manufacturing sectors rose unexpectedly in October, surveys showed on Thursday in one of the day’s major realtime forex news events.

In reports likely to impact currency market trading, the market research firm Markit said its purchasing managers’ index for Germany’s manufacturing sector rose to 56.1 during the month, from a revised 55.1 in September, and that its PMI for the country’s services sector rose to 56.6 from a revised 54.9.

Analysts had expected October’s manufacturing PMI to come in at 54.6 and the month’s services PMI to come in at 55, two major online FX trading news outlets reported.

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