World Economy

German Services Sector Deteriorates as Inflation Persists

Germany's private sector contracted more sharply than forecasts predicted, with the services industry hit by elevated price pressures. The slowdown reflects broader headwinds facing Europe's largest economy as businesses grapple with sustained inflationary conditions. In contrast, activity elsewhere showed mixed signals. India's private-sector expansion gained modest momentum in October, though growth remained below earlier-year levels. Kazakhstan's central bank cut its base rate by 50 basis points at its fourth consecutive meeting after inflation retreated to its lowest point since early 2025, though policymakers signaled further cuts were unlikely this year. Singapore's core inflation unexpectedly eased in September, allowing the city-state's monetary authority to maintain its policy stance despite global oil price volatility.