24 Mar 2015
German private sector activity rises to eight month high
FXStreet (Mumbai) - The seasonally adjusted Markit Flash Germany Composite Output Index rose from February’s 53.8 to 55.3 in March, thereby signalling a continuation of private sector output growth in Germany.
The flash manufacturing PMI rose to 52.4 in March, from February’s 51.1. The data beat the expectation of 51.5. Meanwhile the service sector PMI rose to a six-month high of 55.3, from 54.7 in February. The services PMI also beat the expectation of 55.00.
New business placed with German private sector firms also increased at a faster pace in March, registering the strongest rise in nine months. Manufacturers reported the sharpest rise in new export business for eight months in March. Private sector employment rose, while companies raised their charges for a second month running in March. The rate of charge inflation was little-changed from February’s modest pace.
As per Oliver Kolodseike, Economist at Markit and author of the Flash Germany PMI, ““It looks like the German economy is entering the economic fast lane again, with survey data suggesting that we should expect another quarter of solid GDP growth.”
The flash manufacturing PMI rose to 52.4 in March, from February’s 51.1. The data beat the expectation of 51.5. Meanwhile the service sector PMI rose to a six-month high of 55.3, from 54.7 in February. The services PMI also beat the expectation of 55.00.
New business placed with German private sector firms also increased at a faster pace in March, registering the strongest rise in nine months. Manufacturers reported the sharpest rise in new export business for eight months in March. Private sector employment rose, while companies raised their charges for a second month running in March. The rate of charge inflation was little-changed from February’s modest pace.
As per Oliver Kolodseike, Economist at Markit and author of the Flash Germany PMI, ““It looks like the German economy is entering the economic fast lane again, with survey data suggesting that we should expect another quarter of solid GDP growth.”