Markit Economics released final services purchasing managers' index (PMI) for Germany on Wednesday. Germany's final services purchasing managers' index (PMI) remained unchanged at 53.8 in July, up from the preliminary reading of 53.7.

The index was driven by rises in business activity and new orders.

"The latest set of PMI results suggest that Germany's private sector continued to grow at a solid pace heading into the second semester of 2015. The combined output of the service and manufacturing sectors increased at an above average rate and companies reported further growth of new business. With employment levels rising further and some firms signalling ongoing spare capacity at their units, there is plenty of scope for further improvements in coming months," an economist at Markit, Oliver Kolodseike, said.