Germany's flash composite PMI rose to 53.8 from 51.8 in August, helped by a return to growth in services. Manufacturing remained above the 50-point expansion line, though its own PMI eased to 53.8 from 54.3. Those are encouraging readings for an economy that has struggled to find momentum. They also explain why the headline can look odd: the composite improved even while the manufacturing index slipped, because services did more of the lifting.
What it means: How can the composite PMI rise when manufacturing weakens? The composite combines sectors; faster growth in services can more than offset slower growth in manufacturing.