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GERMAN DATA: Services Revenue in April Strong on Non-CA Basis

GERMAN DATA

German services revenue rose 6.3% Y/Y in April on a non-calendar adjusted basis. This April had three working days more than last April, however - that amounts to an increase of more than 16% - so the figure is hard to compare to March's calendar-adjusted +3.1% Y/Y (no April calendar-adjusted data available as of now).

  • Looking at the main subcategories, consumption-related services revenue increased 2.4% Y/Y in April, while business-related revenue jumped 7.3%.
  • Gross national income by industry from the Q2 national accounts data suggested that the services sector continued to fare comparatively well last quarter.
  • On a sequential (non seasonally adjusted, non calendar adjusted) basis, services revenue declined 1.5% M/M - that figure is hard to interpret, though.
Data BulletEurozoneGermanyCEEMEABulletGlobalFixed Income BulletsForeign Exchange BulletsRegionMarkets

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